You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.
The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.
