I think Kewp expressed what I was really trying to say,
“However, I do disagree with him on one important point. That the financial turmoil is limited to our borders. I think this is a world-wide problem and many other countries are in as bad (if not worse) shape than we are in.”
Also I really seriously doubt coastal San Deigo will go back to 2000 price levels (SD is not Stockton), but who knows maybe a few foreclosure dog homes maybe.
But at that point people will have stop selling voluntarily long before then. then you just have the forced sales to pick through.
At first there are good ones (which will go very fast), then you will get down to the dogs.
And here is my prophecy, when the rest of the worlds economies start to slide, the dollar will rally and gold will sink (Just my opinion results may vary).
And that is from someone who actually made some money from this RE boom/bust thing.
