Feel free to go with “history on” your “side”. It won’t change the fact that we are headed back to pre-2001 prices all across this great land.
45 year interest rate lows, combined with pent-up demand from the underclass to “own” their own apartments (I mean condos, I guess) led to the greatest Ponzi scheme of all-time here in the U.S. Without the “apartment renter” class moving up and providing vast sums to the lucky few, there never would have been this ridiculous bubble.
Some people here in SD are like me…renting nice homes, making good money, sending their kids to good public schools, and watching incredulously as people commit financial suicide time and again buying more than they can afford. (Probably buying more than they AND five families’ income combined can afford)
History is my guide as well….Irving Fisher, esteemed Yale economist of the late “twenties” noted that stocks looked to him to have achieved a “permanently high plateau” right before the greatest stock market wipeout in history and the Great Depression began. Too many real estate experts are calling for a soft landing and high plateau scenario for this to turn out any different.
San Diego is nice and always has been…do your self and family a favor and don’t be caught dead buying anything there though until we hit pre-2001 prices.
