I disagree. I think the past indicates to the future. Not all areas of the nation have gone up enough to need correction. There will continue to be a baseline relationship between local income levels and the pricing of housing for that locale. The areas that will adjust the most will be the areas that got distorted the most. It’s possible the metro markets have distorted enough to affect the nationwide average enough to show a net loss but I kinda doubt it. Short of the multi-faceted economic Armegeddon some people are forecasting I’m just not seeing a collapse in pricing for the entire nation.
That said, I still think SD County is in for a huge correction, but I also think nobody can know the future.
