As long as inventory (and DOM) are high, there will be downward pressure on prices. Could sales pick up because rents are rising? Rents would have to rise a lot. Now, rents are about half of a mortgage payment. SD wages just cannot support the larger rents either. I think a rental priced too high for our median wage, will remain vacant. We just don’t have the high-paying jobs of New York, Boston, or San Francisco.
