The above, combined with the fact that young families cannot fit themselves into a one-bedroom “entry-level” priced condo ($400+ in a good district in San Diego) means you have the non-investment entry-level buyer sitting out too.
Then all the people like powayseller who could afford a home now, but have done their homework and see the writing on the wall – they are sitting out too. The percentage decline in demand grows and grows…..
