The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (16063)	1/15/2004 3:32:38 PM
From: gpowell	Read Replies (1) of 306849

But when you assert that above trend returns are followed by below trend returns are you not implying that price predicts price? Tradelite is saying that current price reflects the best estimation of value, given all available information. While, you are correctly pointing out that not all market participants use all available information, therefore market price can deviate from a rational expectations driven price. I challenge anyone to determine what component of the market price is due to irrational valuation by using price, or price trends alone – and this was Tradelite’s original assertion.

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