First time I’ve heard a reporter actually acknowledge — without being prompted — that the recent downturn in homes sales was preceded by a historic run-up, and that even now, in most places that have experienced a downturn, pricing remains above what it was prior to the 2002-2006 run-up. Yeah, our association leaders have been reminding the media all along, but it’s nice to hear a reporter who “gets it.” (I also think it’s interesting that Schiller’s index only includes 10 cities….)