Behind the curve on home prices?
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Re: “Home prices keep sinking,” April 29:
From the headline, one would have to conclude that prices continue to fall, but there is nothing in the story to substantiate that fact.
Yes, prices continue to be down relative to last year; but that does not mean they “keep sinking.”
In fact, they might have bottomed out several months ago and are now “rising” but remain down relative to a year ago.
It might also be that the rate of decline has lessened, indicating that we are approaching a bottom. A graph would be a great help.
We will find a bottom sooner or later, and let’s hope The Times lets us know when that happens.
Bill Watt, President, Baywood Development
Newport Beach
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