Again, I’ll make the argument that the Great Recession and real estate collapse had more to do with sketchy financing than high home prices. Where are the majority of the sketchy mortgages, like we had during the Great Recession? I don’t think there are many…
Second, I don’t understand why people feel San Diego would fall relatively more than other places, say Northern California or even L.A. San Diego’s strength seems to me a more diversified economy of various industries. Where as in Nor Cal, it’s much more concentrated specifically in one sector, and to a lesser extent, same could be said for L.A.
I’m not disagreeing their could be a recession or RE prices here in SD will stall and start to decline. But a big bang? Unlikely.
