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Edge, thanks a lot for that info. I wonder how the market has been impacted in the nice locations, like the one mentioned in the article.
Here in the DC area, the nice locations are not losing value. They may not be appreciating like before, but there is no real value lost, maybe a couple points, if any.
PS: Posted at the same time as Sid23. Thanks for answering the question.
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This is a litte off topic, but i'm going to throw it out there anyway.
When you mention nice locations holding their value, i'd be very interested to see the volume of transactions for these areas. If they are holding their value but transactions were down 30%, i'd be cautious with the way I interpret that statistic. It is telling me that the vehicle looks OK from the outside, but when I look under the hood we might not be running on all cylinders.
I kind of raise an eyebrow when I hear claims of sales data being skewed because the stuff that is going down is the only stuff that is selling, therefore it's not as bad as it seems.
On the other hand, if they are holding their value with the same number or increasing number of transactions, then i'd feel like they truly are holding their value.