I have doubts single family homes in CV will fall more than 10-15%. Compare them to condos in downtown that are still in a huge bubble. I know it is a cliche, but for rich foriegners paying a $1M for beautiful home in paradise is a bargain when they are used to living in a 2 bedroom flat. Just how many can make it over here is the big question. CV is very desirable area and we had an old thread that stated that 10% of San Diego households are millionaires, excluding homes. At least 2% of the jobs in the area are very high paying, many families are dual professional incomes, many people have cashed out and waiting to buy in CV. Unless we have big recession and people dump cell phones and other gadgets, why would anything change?
