Money will only flow in so long as there’s seen to be sustained upward momentum. Real estate prices in NYC have probably peaked and are now dropping slightly, driven by the high end.
Why? Part of it is a crackdown in international hot money. The other part is a perception of overvaluation — that continued appreciation isn’t guaranteed.
The scarcity in San Diego is (again) artificial. It’s being driven by the idea that property can only go up, so buy now or be left out.
