A weak dollar, which is contributing to the rise of the DOW (currency differential enhanced earnings for US corp. with significant overseas sales/manufacturing) is one of the contributing factors which is preventing a more precipitous decline in home prices. If one were to price US homes in the local currency (Japan, Europe, India) and then compare it to what the cost of a similar sized home in an equally nice neighborhood . . . US prices even San Diego prices are a relative bargain . . . for the wealthy foreign buyer that is. There seems to be more and more of these kinds of buyers.
