I’m not disagreeing that higher priced property is in for a big drop. But, my point is to look at the macro picture and extrapolate from the situation.It’s not a stretch to go much further. Odds of any prices increasing are bad for quite a while. So they go sideways or down. Not an investment I want to be in on.
CA unemployment at 11.3% and growing. Worst in post WII history. Next stop 1930’s?
The state of CA is about to lay-off thousands of employees. That may have some downward pressure on all levels of housing as well?
