I would think that after the bottom hits areas that are closer in will do better than areas further out… And schools matter.
Perhaps it’s my bias, but the new construction vs older construction thing doesn’t hold as much water. There are plenty of 20+ year old homes in UC, Point Loma, Mission Hills that will hold their value and bounce back, despite being older because they have good schools and are close in.
Of course if gas goes back to under $2/gallon, my theory falls apart.
