[quote=SK in CV]It did both. Prices were mostly flat through the mid 70’s. As were rates. There was a bit of a real estate bubble at the end of the ’70’s, though prices did not rise as much as the CPI, as mortgage interest rates had already risen from the 4 to 7% range, to over 9% by mid ’74. RE prices peaked around 1980, then fell sharply through most of the next decade….[/quote]

SK, jog your memory a little. Home prices in SD rose over 30% between January 1988 and the end of 1989. If you will recall, this was during dtn SD’s “urban renewal.” Simultaneously, many parts of its adjacent zip codes of 92103 and 92104 were severely upzoned during that era. SFR’s were being knocked down in record speed in these communities and replaced with multifamily units. The City of SD Planning Dept looked the other way on parking and setback reqs and was lax in other building code reqs as well. Hence we now have these tacky, aging, boxy multifamily disasters with 4 token substandard parking spaces in front interspersed with SFR’s on many streets and double parking off their adjacent alleys.

Beginning late 1983, RE values SOARED in SD until 1993, when defense contractors left the county en masse, including two very large ones.