$150k for a Mission Valley condo is about right. What’s so different today from 5 years ago? Not much. Houses cost a lot more but income have stagnated.
No matter what housing prices are people will not buy without the expectations of appreciation or rental income. I predict that nominal house prices will continue to drop for 3 more years then they’ll stagnate for 10-15 years. There’ll be plenty of buying opportunties during that time.
