The one thing this peter guy leaves out of his theory’s is that the vast majority of home owners are just fine and are not going anywhere during this downturn (execpt maybe to pick up a few more investment properties when things get really cheap).
While I do expect home prices could well go below 2000 prices in less desirable area’s and in some really overbuilt area’s, most of SD does not fit that description.
Stockton or say Sacramento Yes — that would fit into the above description.
For those who can wait this out, or for those who find some bargins in this downturn, they will be winners in the long run (esp in the SD area).
