I still think you are going to see continued significant depreciation in San Diego. Homes still comes on the market here as part of the natural cycle. Buyers won’t be able to finance with no money down, no interest for the next 3 years, no income proof, no FICO score needed. The fact is home prices are out of whack with incomes and that will lead to prices falling.

Not to mention the stagnate job market here for decent paying jobs. Increases in the service sector don’t interest me.