2/3rds of the way to the bottom?

Great new article on Seeking Alpha with charts to put everything back into perspective. The slump in sales in December wasn't much of a surprise for much of the audience on this message board, but this article reinforces the predictions we have been discussing for the past few years:

http://seekingalpha.com/article/184262-is-it-time-to-buy-a-house-yet

According to that chart, it would seem we are not even that close to the bottom for Irvine.

If we use a bell curve, it would place us 2001 pricing... I can't think of Irvine RE as a whole at that price level... maybe more like 2005 right now.

If the bottom is supposed to be 1996, in 1999, Irvine was $165/sft. Adjust for 40% inflation and you are at $230/sft. Can Irvine get there?

[quote author="irvinehomeowner"]According to that chart, it would seem we are not even that close to the bottom for Irvine.

If we use a bell curve, it would place us 2001 pricing... I can't think of Irvine RE as a whole at that price level... maybe more like 2005 right now.

If the bottom is supposed to be 1996, in 1999, Irvine was $165/sft. Adjust for 40% inflation and you are at $230/sft. Can Irvine get there?[/quote]

Irvine got there and surpassed it due to greed and creative financing. Greed launched and backed up these companies headquartered in Irvine but then expanded to other regions.

This time around the greed is still there but no more creative financing. Although the communists are a major part the sheeple this time around, their source of money laundering is not sustainable due to the history of patterns that have occurred where Asia experience her recession after the USA.

;;