Of course you can be (far off), but what’s been posed is being early on the down versus early on the up. I’ll take the latter pretty much every time, especially with things that move slowly (like real estate).
And again, housing is so overpriced in San Diego right now that it really doesn’t matter. If it should somehow start inching magically upward, it just isn’t a good value to buy most properties. *And*, I’d still have time to reconsider my position if and when that comes to pass. Buy today and you’re pretty much screwed.