“3) foreigners are coming to SD;
5) inflation will save the day;”
I think the above two are valid scenarios. By the time the fat lady sings, the political pressure on FED will be unbearable. They may crack and decide to kill the $ to stop the pain. If $ devalues by 50% or more, I can imagine a lot of offshore interest in SD. That’s what happened in Vancouver, BC. It quickly became a suburb of Hong Kong.