No I kind of think they will be in the same boat. My only caviot would be this. If there are segments of a particular zip code that have substantial equity then I feel they will simply ride the storm out rather then sell. Or they will put the home on the market to sell at a higher price then what the market is demanding and it won’t sell and they will not care.
Scripps, especially new Scripps, to me is just as vulnerable as any of the areas mentioned. Old Scripps “may” fare better, but only because more people in old Scripps have higher equity and will simply be stubborn and not give in to the market. However those that do have to sell, even in Old Scripps will succumb to price at whatever the market will demand. They may luck out though because of a lower supply in that micro market. This is all very speculative on my part and make no mistake I am not saying the immunity or protection will be substantial. I think this is true for other areas especially in north county that have mixes of older more established homeowners with lots of equity and newer subdivisions that may have future distressed homeowners.
