Prices will go back up in the long run. But what is it? I think that it will be 10 years or more. How much is rent at La Boheme? And, by renting, how much could you save in a growing portfolio during that decade?
When prices trough, you’ll be paying La Jolla prices to live in North Park, with no relief in sight.
Newbie, you said it well, North Park is a lower to middle class neighborhood. How can those lower-middle class folks afford $600k or even $400k mortgages? 2/2s should be $200k max for the local folks to afford it. If inflation hits and interest rates go to 10%, then prices will drop like a stone.
I’m all for diversity but prices should be commensurate with the local population’s earnings.
