Was just woken at 11:30 our mountain is burning and has gotten worse.

That's the point, averages are really useless, & are not indicative of the condition of the economy. Watch the movie 'The Big Short', while it's a product of Hollywood & seriously downplays the role of FreddieMac, FannieMay, USDA Rural Development,...shows how property values can be based on fabrications & speculation more than actual value,.....with the BlackRocks of the world running around paying 150-200% of a listing price(& I know You know that), I give -0- legitimacy to #'s like those being grounded in reality. That is all Sir....
I actually agree with everything you said.
I wish our average home prices were being exaggerated ! But sadly they are accurate or maybe low . No shortage of deep pockets to pay stupid prices though .