“Over 50% would be several hundred dollars less than going rent…….”
Yes, but you are not accounting for what credit standards may be like at that point in time. Most likely much harsher than even now.
I think some of you are still not getting it. No, the rest of the country willn not suffer 50% losses (not nominal), but SoCal very well might. Sorry if you don’t like that, but historically things overshoot the mean in a correction. I wouldn’t bet against that happening.
