The other day I got a call from a “buyer” asking me for a price on one I had bought a few months ago 92027 4BR 2400 SF. I threw out 950K partly to be ridiculous but partly as I think that is where the market will go in a year.
Sure enough, just down the street one is now listed at 990K (with a pool) and they are lining up to buy with 600 views in one day and 36 saves. Rule of thumb, every save on Zillow adds 1K above list.
Back in 2000 when I bought my first home, I thought about the theoretical possibility if the US went to Japanese interest rates of 1% or less.
I guess my point is, in a world with zero rates, US/So Cal and specifically San Diego real estate is a very appealing asset class. I’ve seen a few asset price collapse Texas in the 1980s, Russia in 1999. There will be a softening here, but not at all on the radar now.
