Condo’s in most of SD are already there. Next will be the duplexes and least desirable areas, and last will be the middle income areas. I dont know if the nicest areas will see 40% off. Maybe itll be worse, maybe better, but any way it goes housing prices are going down in CA for the rest of the year.
Considering that 10% of Americans live in Ca, it isnt going up nationally either.
I kinda keep wondering why they keep citing Yun in these pieces. This guy has been forcasting a bottom since 2006 and is still wrong. I mean how many years does it take to just stop using him and his misplaced predictions? Two years? Three? Ask Rich, ask any Wall Street house, hell, ask Paulson or BB. BUT PLEASE national media, please stop citing someone who doesnt know the difference between a home and a hole in your wallet.
