Poorgradstudent, I moved to SD during the big bubble and waited for it to pop before buying in 2011, even though I moved here to take a 6-figure job and could have purchased immediately. It was a 6 year wait for me.
I think you will have a much longer wait than me. Incomes are higher, rates are lower, population is higher, net worth is higher, Asian interest is higher, and we have none of the NINA 0% down insanity of 2003-07.
If you want to settle down in SD or anywhere nice on the West Coast I suggest you not wait.