Until homes like the most recent entry in the worst picture in the MLS contest thread start selling for 1/3 to 1/2 of the asking prices , we are nowhere near a bottom and “everyone wants to live here” means absolutely nothing until we are there.
This bubble was all based on layers and layers of reckless lending standards and fraud.
“where there is a will there is a way”- there was a way, but that has all changed now….stated income products will soon be gone like T-Rex
finally- those who answer the survey saying “I want to live in SD” are not thinking about our ‘burbs and ghettos…of course, everyone wants to live in Coronado or La Jolla—but will people really trade everything to move to some tract home in Carmel Valley, Rancho Bernardo or San Marcos. F&*k no!
