The newer 2bd/2ba condos in that size range in Mission Valley are currently selling between $425,000 – $465,000. Sooo, take another 25% off those prices and we’ll be getting near parity. FYI, it will take an $84,000 annual household income to qualify for that 2bd condo at $325,000. Such a deal.

Of course, this comparison is based on assumptions that there will such a thing as 100% financing program AND 6% interest rates available by the time these prices get there. Personally, I wouldn’t bet on either of those assumptions.