Same advice goes for everyone, you cannot worry about what other people can or cannot afford. The fundamental misconception (at least as I see it) is that many here project the attitudes that they have upon the population in general. How many times have we read where posters here question how can buyers be out there catching knives, or how can people afford these prices or these downpayments? The answer is that it really doesn’t matter does it? For people who have been waiting a few years to buy, these are probably the most trying of times. A few years ago it was EASY not to buy wasn’t it? Of course it was, the market was so whacko it was a no brainer. Now here we are a few years later and some basic rationality has indeed crept in. However in my mind pricing for a nice home in Carmel Valley or Scripps is still 800k. Are you kidding me? To me that still is not rational but yeah it is better then what it was. Those that crow it will drop bigtime in a short time in these types of neighborhoods, to me are those that are not even close to being a buyer. They are the people who view the market by reading blogs all the time and not actually going out and making offers on homes.
I agree the market will drop. I feel it will continue to be a slow down ride in the nice spots. I also still heartily agree with the best quote on this site so far by sdrealtor, “there may be alot of great deals but not alot of great homes”.
