I think expecting anything to swoop in and save this market is wishful thinking at this point. Maybe at the high end there will be an early bottom due to rich overseas investors, but does anyone think they are going to be buying McMansion’s in Temecula, Cruftmans in NP or shacks is Chula?
I do wonder if the downtown condo market will get snatched up as vacation homes/rentals for foreigners when the bottom falls out, though.
