When I say that entry-level houses in Clairemont will bottom around $275K in 2010/2011 I am referring to today’s dollars
Who knows what $275K in today’s dollars will look like 4 years from now
The Fed is currently pumping our money supply at a 12% rate, Russia increased their M-2 money supply by 48% in 2006 and most other countries with central banks are furiously debasing their currencies as well
We may even be pricing our homes in Ameros before this current correction ends – who knows …
Bottom line for me is that we are nowhere near a bottom so I don’t have to worry about what prices will be when we get there
