little lady – I think we are on the same page.
I’d guess a total 40-45% real price drop over 5-7 years. Some due to inflation, some due to nominal price declines. Somewhere in the archives I put my guess at 19-25% nominal price decline and another 15-20% due to inflation.
For perspective, consider the period from 1990 to 2000. The median rent in San Diego county was $564 in 1990 and grew to $761 in 2000 … and that decade included a recession, local unemployment that exceeded the already high national levels, and a fairly prolonged housing bust. With those headwinds there was still an increase in rents of about 35 percent over a decade. Or an average of about 3%+ per year.
In fact inflation may be worse this decade.
