With the weak dollar, foreigners could try the landlord game.

Ahh, you beat me to it!

My first response is usually that it would take all SD wage earners salaries to triple overnight to prevent a collapse at this point.

However, imagine the doomsday scenario of a collapsed economy, housing market and dollar. Something like whats happening in Detroit going on nationwide. The market turning illiquid in parts of SD county.

The gummint could create a bailout of sorts by granting immediate US citizenship to anyone (and their immediate family) when buying a property. If the dollar sinks low enough, I can easily imagine a large influx of middle-to-upper class Asian familes immigrating in droves (both Indian and Chinese). America will seem like a bargain, particularly to the Taiwanese and Japanese. If they can find work of course, that is.

I can also forsee Mexican families (especially ones with multiple wage earners) pooling resources and snapping up properties in the IE at bargain prices.

This will, of course, give the xenophobes stress-attacks. Kind of an added bonus, I would think!