For one thing, the housing run-up started in 1998 so that is a better base to start from. Since 1998, absolutely every area of San Diego, and every type of real estate has gone up well over 100%. The only difference is that higher end areas, especially along the coast, captured most of their gains between 1998 and 2001. Less desirable areas didn’t start to heat up until after 2001.
Regardless, when the dust settles at the end of the crash, every area will suffer brutal losses. Probably the less desirable areas will be the first to fall and things will work their way back in the same sequence.
