Agree with some of your points. If things get as bad as they most likely will become in this country, the price of housing will be the least of anyone’s concerns. Better have everything paid off, with zero debt.
Everything in life is relative. Concerning the current elation about real estate prices dropping in San Diego. When I hear people discussing the fact that they found some dumpy house in a dumpy neighborhood for $500K, and feel they got the “deal of a lifetime,” I cringe.
At 41, I may be a little older than most on this forum, but we bought our home in a prime area of La Jolla for the very low six figures almost twenty years ago, and I can’t fathom paying anything over that for a primary residence or income property.
