It just seems to me that very little is budging below $400K, even the dumpiest of dumps, or somehwat nicer homes that are not even really close to the heart of San Diego. I’ve been watching a long time, probably like everyone here. I’ve especially been watching that number ($400K) and lower because it would be the highest figure I could possibly imagine….of course while also resorting to eating sticks and dirt for sustenance. I understand that people attach a certain “premium” for living in San Diego, but what about places like North Escondido, etc, places not even very close. I don’t understand how this could be sustainable for more than a day, housing prices so out of line with median income. Even if houses on the lower end dropped according to Moody’s figure, it would still be out of line. But yet they stick. How long can that really last? Why does it take soooo long to supposedly normalize?
