I think people need to reevaluate their desires to own ANYTHING especially as expensive as a house. the question is “why” ?
The tax savings are ridiculous,theres no reason to own for tax benefits. Spend 3 to save 1 dollar?, not a very wise investment in my mind.
Because you just want to “own” ? ..What is the logic of that? its not logical, its emotional and stems from decades of programming that people feel this way. You can literally ONLY own what you can physically defend in wary times, and homes are usually not one of them. Unless you possess an army or at least a well manned well stocked arsenal.
When SD real estate, and all of SoCal for that matter start their slide into oblivion, then all bets are off on how low they will go. Whether you subscribe to “Keynesian” or “Von Mises” (Austrian) economics, the “Race to the Bottom” will be the key as both disciplines describe it. It could and I believe, WILL go very, very low.
Im 80% certain that we will experience a “unveiled” world wide depression soon, in fact we are already in it, and have been since 2003 or so. Its been hidden from view for 2-3 years now by tricks of the Fed and the Govt’s “plunge protection team”
Iam not an alarmist, but this is decidely an “Alarmists” point of view. When people started filling the lifeboats on the Titanic, even then the most optimistic “rose colored glasses” passengers and crew could no longer Poo-Poo the idea that they were sinking and ignoring those few overreactionary, doom and gloom people as only “Alarmists”, no! Not anymore, now these so called “alarmists” were called “Realists” and some of the very few ones that survived, were then called “Survivalists”
The coming economic times will be no different. Dollar/currency collapses, wars, runaway inflation or deflation, oil shortages, multi national corporations, crooked book keeping, corruption, unbridled greed, it all adds up to dire straits for not only the USA, but the world at large, to believe otherwise would be sillyness while wearing those rose colored glasses. Cognitive dissonance reigns supreme, people dont listen to bad news. These times will be no different than 1929, and it will be worse this time.
So to answer the question: “How low will it go for SD real estate prices?” It will go so low low you wont believe it, when it starts its slide, it will be QUICK….Im referred to as the “Prince of Darkness” in my friendly group, but I will NOT be one of the MANY who will be caught with my pants down in the coming times. Common sense will go a LOT further than graphs, speculation, comparisons etc.
Now I must put my aluminum foil hat back on, the aliens are trying to communicate with me again and I dont want to hear it ! lol hahaaaa !
Google up Mogambo Guru fror more info on this “alarming” forecast, if you can handle the truth.
