[quote=ctr70]1991-1996 was another time people though California real estate was finished and would never come back. I think 1996 was more like the bottom. But it was still really cheap in San Diego even up to 2000. If we say 2008 was year 1 of crash, that puts us at about late 1994 right now.[/quote]
If memory serves, 1996 was the nominal bottom and 1997 was the bottom in real terms. That’s in aggregate, of course it could differ by area.
Home prices peaked in late 05/early 06, so I don’t think it’s correct to use 2008 as year 1 of the crash. The 1990 market peaked in spring, so I’d say 2006 is equivalent to 1990. That puts us equivalent to 1995, for what it’s worth.
