I am not very familiar w/Carlsbad. If it were completely built out, are we to assume that no one is ever going to sell their house ever again? I mean, NYC is built out. A lot of major cities are built out. Maybe San Francisco is built out. That doesn’t mean people don’t move. Prices fluctuate w/whatever goes on in the real estate market, I would think. Some older neighborhoods are built out and then whole neighborhoods get rehabbed.
