50% drop CAN happen. In 1999, San Diego real estate prices were way more then 50% below today’s prices. In 1999 everybody wanted to live in San Diego just as much as they do today. That argument is foolish. Desire to live in San Diego has NOTHING to do with today’s current outrageous prices.
In the long run, San Diego will always cost 2-3 times similar real estate in Indiana or Montana. After prices here drop more than 50%, real estate will still cost 2-3 times more than in Indiana or Montana.
