[quote]Now back to the foreclosure topic, at almost 4X the foreclosure rate of the peak in the 90’s and not letting up, I’d say we’re still in for some serious price declines still. That would be additive to SD’s mention of rate increases and unemployment. With Fannie Mae and Freddie Mac being claimed insolvent publicly and the chance of them going down we could see rates go to the moon in the near term as the Gov’t attempts to backstop and bailout. Ouch![/quote]
I don’t dispute this. I just don’t subscribe to the argument that “profession x” is going to have problem and hence since “profession x” is a “major” profession for CV residence (or any area for that matter), CV will decline because of “profession x”.
First, rarely “profession x” has a sustained problem. Biotech companies, like any other tech company come and go. Some fail some start up some fail again some start up. It’s how the process works. No different from your average tech company in that regards.
Second, this isn’t BayArea, we don’t have a predominantly dominant enginerd herd here in san diego. It’s probably pretty diverse in what people do. While this sucks from a job selection for particular types of enginerds, overall for the SD economy diversity is a good thing, because it does provide some level of insulation from a disaster in one profession at a point in time. The problem, again, is the economy being in the sh!t can is/will impact everyone.
What I have *heard* from recent sources is that there is some VC money is coming to town for startups. I have not yet confirmed this, but this is from a deemed reliable source.
