Do you mean:
a) nominal 2000 prices ?
b) inflation-adjusted 2000 prices ?
c) Price-to-income ratios at the same level as 2000 ?
d) Price to rent rations at the same level as 2000 ?
e) Some other metric.
[/quote]
It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.
My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
In terms of a “lost decade” we have to look to Japan.
Prices in central Tokyo stagnated for over a decade whereas prices in the far suburbs crashed.
Prolonged stagnation will bankrupt many folks who got in at the peak. Eventually, wherewithal will wear and they will give up before the market recovers enough to return the purchase price + sunk costs over the years.[/quote]
I assumed you meant Y2K pricing in SD (since the original post was of very local flavor).
I agree that some areas of the country have seen Y2K pricing or lower.
