So here is a point… The bears will hate me for this…
If I am going to move to La Jolla, I am not going to buy a condo. I am going to buy a detached home. What would be interesting to me is to see the depreciation in detached homes in La Jolla. UNDOUBTEDLY they will have depreciated. I will never argue that. JG your data is consistent so that is very true and telling of the situation. All things scale. It would be informative to see the data for detached homes only. Again, I am posting this blind without looking at the data. The only single data point I took was looking at detached home sales for April of 2007 and there were 31 closings with an average pricing of a bit over 2 million.
Anyways, I am still in the camp that home type and location will vary in terms of the amount they will depreciate. No hard data on that. Just my opinion.
