Boo hoo………..anyone who was stupid enough to pay that much money for that kind of home in the middle of Podunk, CA deserves zero sympathy. They bought because they foolishly thought that prices would just keep going up and up and up and they would get rich when they sold their homes. I’ve had numerous conversations with otherwise, sane people in San Diego from 2001-2005 who also believed in The Tooth Fairy. When I told them I was cashing out and leaving SD, they thought I was crazy since I was going to leave so much money on the table by selling in the Spring of 05. Those that were drinking the Kool-Aid now believe that this will be over by next year and values will start climbing again. Several of my friends also got smart and sold their homes when I did and are now renting in SD.
