(local municipalities coffers have not recovered enough yet, unlikely they will let a significant downturn occur “greater than say 10%” without full QE in over drive). Anyway JMHO.
Only thing is that property prices NATIONALLY have risen only about 12% over the last 12 months. San Diego’s 20+% rise was an anomaly, and it could just as easily fall 20% without affecting national prices more than 10%.
