“All hell is going to break loose”….wow. I’m almost as stunned by this brand of “the sky is falling” prognostication as I was by the countless folks who believed the housing market would continue its unprecedented meteoric rise (the same folks who believed they were investing geniuses in the late 90’s because every tech stock they added to their portfolios was up 300%) Fact is, markets move in cycles – always have, always will. They are tied to personal, local, regional, national and international events in varying degrees. Many, many real estate markets have been driven up over the past 5-8 years by speculation, exotic lending, fear-mongering peer pressures, pack mentalities and slick marketing. The inevitable slowdown and outright corrections have started and it is happening in far more markets than just San Diego. So where do we stand now in San Diego? Well, anyone who jumps into this market intending to make a quick buck is probably going to be disappointed. But is the sky falling? Unlikely. San Diego real estate has tremendous appeal. Is anyone betting against San Diego real estate over the long haul?
