How many real buyers are out there and when will we hit the saturation level of remaining buyers? Also if prices go back to 2002 values, exluding inflation, we’re talking about a 2bed-2bath condo in Mission Valley for about 150k?
In some areas … 2002 was already inflated.
The previous non bubble year in CA IMHO was like 97-98. 98 saw the IT bubble which was overlapped by the house bubble and in 2001 when the Tech bubble popped, it somehow inflated the house bubble even more … and 9/11 created extra air for the house bubble … heck it created a bubble in areas where there were none and no reason to bubble up … like florida …
Cool.
Cow_tipping.
