HLS – We are about half way through a decade since the peak of the bubble in San Diego. The lost decade might actually be 15 years in this case, but I have faith in my fellow Califronia, who has proven incapable of avoiding speculative bubbles in real estate for generations.
Although I agree that the magnitude will not be the same as the bubble of the 2000’s, we will surely retest the relative values of the peaks in 1990 and 1979 sometime in the next 15 years.