It is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.

2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.