[quote=FormerSanDiegan] …I find it funny that in an environment where the median price has dropped by 40% that anyone would think that bears have lost.
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Hmmm…. housing is cyclical. I think comparing each stage of the current house price cycle to the corresponding stage of the last and prior cycles makes more sense than simply calculating the % drop from the last peak. And that’s doubly true because the last housing peak was the highest and most widespread – global – in recorded history. So compare to 1996 prices, increased for CPI inflation since then. If we are still above that level, then we haven’t even returned to a trough appropriate for the lesser peak before the last.
