I’m not saying it was predicted, I just can’t believe all the efforts to stimulate sales aren’t really having that big of an impact on demand.
I can’t imagine what would happen to prices if even a small portion of the shadow inventory everyone speaks of were to hit the market.
I’m with John, I think San Diego will see another significant drop in prices over the next 12-24 mos, at least in the mid to upper price range where rent/own fundamentals are still so far out of whack.
