deadzone nailed it. We’re not done by a longshot. I’d actually feel alright about buying in O’side (if I wanted to live there) right now as I think the downside risk from this point probably isn’t too bad. But the $1 mil market in CV? Or Enci? C-Bad? Not a chance, not for me.
As long as Rich keeps this site up, we will be able to come back in several years and see who was right and who was wrong.
As for ps, I am willing to give credit where credit is due, she was right about massive devaluation. Please don’t make me run through most zips in SD County to show how bad it has been. Devastating. Yes there are the hold-outs but as deadzone says we are not done yet. And if we end up 40% down in CV as opposed to 50%, I am still going to give ps credit for calling a big decline correctly. If we see a CV home that sold for $1.3 in ’06 close for under $800K in a few years, I will say close enough, ps, pretty damn good call.
Make no mistake I am not a ps fan, especially in light of the recent flip-flop, but I call em like I see em and right is right and close enough counts in my book.
