If you pull the “buy trigger” in the early fall of 2009, you will most likely regret it. The pain-train will not be fully passing through the areas where you are looking until late 2010-2011. My guess is that if you buy at the end of summer in 2009, you will probably overpay by around 25%. I used to live in the Leucadia/Encinitas area and have seen the pain-train pass through there before. Yes, when it hits one area, it eventually hits all areas.
But, then again………………………..I could always be wrong and history doesn’t teach us anything about housing bubbles, or does it?
