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  1. 4plexowner
    June 9, 2009 @ 5:34 AM

    I’m confused Rich – I thought
    I’m confused Rich – I thought we had reached the conclusion that median prices were pretty much useless yet your last two posts have used median prices

    “as opposed to guessing based on the size-adjusted median”

    I guess that’s part of the answer?

    • FormerSanDiegan
      June 9, 2009 @ 8:20 AM

      In the Bubble primer, Rich
      In the Bubble primer, Rich also used median prices to make the assessment that homes were overpriced.
      In retrospect they seem to have been pretty useful for that.
      We all know that the median is flawed since it is sensitive to changes in market mix.
      But that does not mean that these are not useful indicators.

    • Rich Toscano
      June 9, 2009 @ 8:37 AM

      The median price per square
      The median price per square foot isn’t useless or else I wouldn’t update it every month. It’s got its flaws but it can provide useful information as long as its flaws are taken into consideration.


      • 4plexowner
        June 9, 2009 @ 9:21 AM

        we talk about median prices
        we talk about median prices and their shortcomings often enough that perhaps an ‘Explanation of median prices and their use’ link on the home page is worthwhile – I looked for such an animal this morning and didn’t find one

        as always, Rich, the info you provide on this site is invaluable and I appreciate it

        thanks for this latest medley of charts

      • Rich Toscano
        June 9, 2009 @ 9:34 AM

        Thanks 4plex, that is a good
        Thanks 4plex, that is a good idea. I did write a pretty involved piece on that topic so i will put it up in the primer. For now, the link is here:


  2. Anonymous
    June 10, 2009 @ 8:49 AM

    I am going to sit back


    I am going to sit back and continue to read this website often and take your advice over our financial planner. Much props to you and your website. We moved to S. Cali three years ago. We have been reading your website, took your advice, and decided to wait and buy. You have saved us hundreds of thousands of dollars (now we have a nice nest egg as we kept our money in the bank after we sold at the peak in FL) and thanks to you…we are not in the same mess that most are in. Words cannot express my gratitude of thanks.

    • Rich Toscano
      June 10, 2009 @ 10:49 AM

      Thanks for the kind words,
      Thanks for the kind words, WW…


  3. Anonymous
    June 11, 2009 @ 1:46 PM

    I had commented a while


    I had commented a while back that Im a REO broker in L.A. county and I spoke of the moratoriums that had held back inventory.

    The last month or so we have been doing BPO’s night and day to keep up with the banks’ demand. Bpos are ‘broker price opinions’ the banks use (usually along with a full blown appraisal) to see what they have is worth. It’s the first step when they have taken back properties. Then we go out and see if the property is oocupied.

    Anywho, I was asked to report back when things changed on my end. Well, things have changed and reo’s are being dumped on the market as I type. We are swamped and I will complain about it until it’s over, but I have been working toward this time for a couple of years now.

    If they dont pull another moratorium trick or something else, the inventory should explode in the coming days/weeks.

    • Rich Toscano
      June 12, 2009 @ 8:16 AM

      Thanks surfer00… very
      Thanks surfer00… very interesting. Given the statewide nature of the moratoria it makes sense that to suppose the same thing is going on here… Any local San Diegans able to corroborate this?


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