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SD Home Prices at Bottom, Says Forbes. Guru Robert Campbell Disagrees
It is simply amazing to me how everyone forgets about seasonality! *Of course* we would see "positive" numbers in the summer - but you have to take that into consideration in your projections. Funny enough, the following was published on bloomberg.com the very same day as this SD Reader article: "Existing-Home Sales Unexpectedly Fall...Purchases dropped 2.7 percent in August to a 5.1 million annual rate, the second-highest level in the last 23 months, the National Association of Realtors said today in Washington. The median price dropped 12.5 percent from August 2008. A government report showed unemployment claims declined." #7 (Visduh): I completely agree, however you are assuming free market dynamics. Sadly, with all of the government intervention this market is not behaving like (and in fact is not) a free market. #2 (bburito): I hope you are right! And if you are, my first-born's middle name will be Bburrito!— September 27, 2009 10:41 a.m.