I’m with anxvariety. I also see about a 10-15 years slide. History is my guide. In the 1990’s we saw a 7-year downturn in San Diego. Since this downturn will be national wide, it should take twice as long to recover.
Boomers are about to retire and they’ll soon need to liquidate. Many are hoping to unload at top price. They’ll hold on for a while but as they age they’ll eventually have no choice but to sell at market price. As they say, you can’t take it to the grave.
When the economy goes south immigrant-bashing will increase (remember the 1990s) and this will cause immigrants – legal and illigal – to sit on sidelines. Who will buy my dad’s house when he dies?
My gut instincts tell me that the median SD price for SFH will settle right around $350k at the trough. What was the median high price and date for SFH in San Diego? I don’t have that info readily available.
