I still remember some impressive sales last summer. There were some knife-catchers buying places, thinking the market was still moving and they were getting a deal on a fluke guy upside-down. One in particular that comes to mind was a house bought in August in Scripps Ranch. BMIT even featured it. It was for a million and now they’re trying to sell for over a million.
I think he’s accurate that the free money spigot was shut about September. I’m trying to remember what was said in This American Life when they were talking about the pool of money drying up.
Also, he is talking California, not just San Diego. He says the median was 480k and it was much higher in SD. I think it got to 520k. Not positive, but something ridiculous like that.
