Honestly it is good that you asked this question before finalizing the deal. My parents live in 4S and bought in ’99 so I am not worried about them losing their arses. I have spent a lot of time there on my parents balcony when almost all of 4S was just a big dirt ball. It has all gone up and been sold during the housing bull run and is going to be the perfect example of how a whole community can be destroyed by an asset bubble popping. I don’t see anything but that whole area going down 20-60% in the near term and if you want to be able to get out of the house at some point the best way to do it is to not get into one in the first place. I would rent in the area and watch things play out. Losing 10k upfront is much more palatable then erasing a 20% deposit and being stuck in a depreciated but nice-looking prison for 15 years. As a lifer in San Diego and one who saw 4S grow from the drawing board to what it is I say stay away until it has dropped at least 30% or 2-3 years has passed.
