Home › Forums › Housing › San Diego Housing Market = Dead Zone, 67% overpriced !!! › I’ve given a lot of thought
I’ve given a lot of thought to the topic “how low will prices go”.
I think we have to be more specific about housing type and area of town before we can start picking numbers for a decline.
One of the most important questions, IMO, is “what will an entry level house cost at the bottom?”
Will the 1100 SQFT 3/1 house in Clairemont be selling for $350K (27% decline from 490K) or will it be more like $225K (54% decline) or 161K (67%)?
Once we decide what the entry level house might cost we can then talk about the upper end of the market.
Personally, I’m expecting a 40-60% decline with the Clairemont 3/1 going for about $225K.
If I can buy entry level for 225K I’m not likely to pay 600K for today’s 800K house.
