I agree completely. Some of the arguments made on this site make it out that San Diego will turn into a ghost town. If it does, wouldn’t you be able to get a house for pretty cheap? And wouldn’t an awful lot of people want to live here if the houses were cheap? And then wouldn’t the businesses come back because of the growing population.

Before it gets to that I belive we’ll hit an equlibrium which will probably be pretty much just like 1998-2002. Fairly reasonable housing prices (albeit considerably higher than national average) and a growing population. I think we’ll look back at 2002-2006 as an absolute aberration.