I’m more of a realist than a permabull. I don’t want the housing to go down if that means it will take the rest of the economy with it. I have researched a few downturns of the past (Japan, Korea, San Diego). Their economy has to turn really sour for a big time price drop.
If housing can crash without taking down the economy, what better situation can you ask for? We can all become land barons!
But I don’t know what the fuss is about. Why are you complaining about housing prices? You can easily move to Temecula/Chula Vista/Ramona etc and afford a nice house. That’s the fact of life, some people got here first. You don’t see people complaining about land owners in Manhattan, do you?
