[quote=sdrealtor]Low rates for the foreseeable future…housing prices falling slower and slower…inflation raising the price of everything else and eventually incomes also. Voila!! Back in balance at some point in the future. Since about 2004 I always thought it would be around 2011 or 2012.[/quote]

Balance in southern CA real estate tends to be a discrete point in time which we pass through rather quickly when going from one extreme to the other.
It’s like the Equinox, where for a brief moment, the night and day are in balance, but it occurs at the maximum rate of change between the extremes, resulting in a situation where being close to this perfect balance is a fleeting moment in time.