My theory is that older and desirable areas won’t be pull down by distress sales, but more of calibration to the other area in the county that people cross shop it with. Every area will have people wanting to sell. But people areas like Cardiff, Solana Beach, etc, can choose not to sell. So there won’t be too much distress sale to drastically pull down the price. However, it has x% premium over 4S, Carmel Valley, La Costa, Scripps Ranch, etc. When those newer areas drop due to distress sales because there were more speculations, etc. Eventually, buyers might dry up for Cardiff/Solana Beach to a point where the few distress seller might make a different in price. That’s why I think area like Cardiff/Solana Beach might have a semi-soft landing?
