Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: valueminded who wrote (55268)	8/23/2006 4:54:32 PM
From: regli	Read Replies (4) of 116555

"Gee whiz. Prices are still rising - You can convince me of the hard landing when we see significant (>10%) across the board year over year declines - stated another way, if I thought there would be a serious decline, I would sell and rent - I just don't see it happening." It is obvious that even the present (slight) increase already reflects a fall in price as discounts and incentives are not included. I am sure you know that when a market transitions into a sellers market, closing costs and all kinds of things not reflected in the statistics get thrown in. Also, given the fact that the low end and medium level sales have fallen off a cliff distorts the median price and therefore understates what is actually happening.

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