Mostly: Classical

[loantech]

No Bubble?:http://www.safehaven.com/showarticle.cfm?id=1004

Yesterday from the California Association of Realtors: "The median price of an existing, single-family detached home in California during August 2003 was a record $404,870, a 21.1 percent increase over the $334,270 median for August 2002... The August 2003 median price increased 5.6 percent compared to a $383,390 median price in July." In dollars, the California median price was up an eye-opening $21,480 during August and $70,600 y-o-y. Sales were up 14.7% from the strong year ago level. "All regions of the state recorded a marked increase in sales activity last month." Condo sales were up 16% y-o-y, with prices up an amazing 25.3% to $290,330. The unsold homes inventory dropped to only 2.1 months supply. Notable y-o-y prices increases included High Desert up 25.4%, Los Angeles 24.5%, Palm Springs/Lower Desert 22%, Ventura 23.6%, and Orange County 19.7%

There is still no inflation. <g>