Ex-SD, while I generally agree with most of your posts on this thread, I live in Ft Lauderdale and (I’m a real estate broker) 50% drops HAVE NOT HAPPENED. There has been one instance of 50% off 6 units at a developer auction for The Platinum condos in Miami, but that’s about it for S FL so far (and they still sold for over $250 per sq ft). It’s happened quite a few times already on the west coast (Ft Myers and Tampa). I’m not saying it’s not going to become more prevalent, it just hasn’t happened yet……..
I frequent this board everyday because I plan on moving back to Diego next year. I’d love to see prices keep dropping there and I’m sure they will. One thing we all have to remember…..There are many people that have Internet based jobs and can live any where in the world and are probably watching places like So Cal very closely….just waiting so they can swoop back in when they feel the time is right (I’m on of them).
