Did you just read the one post about the couple I know who bought units in Hillcrest, but RENT in La Jolla b/c they think that’s the best school district. They would rather RENT than send their kids anywhere else — and they can afford to buy in your hood. They won’t do it.
You only see what you want to see in your neighborhood. If you were living somewhere else, you would focus on what you see in those areas.
And as I said, difficult to predict what will happen in the future, since the government is doing everything possible to keep prices up. Originally the thought among many was we would see 2000/2001 pricing. The place I got was 35% off peak, which I think is about 2003 pricing. I’m not sure we’re at bottom, so there is potential it can reduce some more. Whether it drops below 2000 levels, that would be drastic. I hope not. As I say, very precarious economy.
I just posted a property on the Mission Hills thread. It sold for 39% off 2007 price. A year or two ago, people were laughing at the thought of those reductions in 92103. I don’t think the high end is bottom yet. 92103, 92106 is starting to feel the pain that other parts of San Diego were seeing two years ago. It is every so slowly creeping into ZIP codes that were once immune
