I say that whether the housing market has bottomed in SoCal has more to do with the economy than price income levels (they rarely match that well in Socal anyway, there has always been a SoCal premium in L.A. county and I think in the last 10- 15 years now San Diego county has joined that club (I also think housing in Socal is becoming a lot more like Europe or Asia where rents don’t match home prices all that closely).
Not saying SD has hit absolute bottom here but where it goes is more a function of the economy now than income/price levels.
Anyway they have that old saying don’t fight the fed, but now it is don’t fight the fed, the bank of England, the bank of France, the bank of Germany , the bank of Japan Etc…. the list goes on…
Sooner or later (I think sometime around the start of 2010), they are going to turn the economy around. I know it sounds improbable right now but I think it’s very possible,
One side note, Once the banks get somewhat sorted out I think Gold will lose a lot of it’s safe haven status (just my two cents).
