la jolla and del mar are fairly ‘bubble’ proof. people just have to have that la jolla address to maintain their status symbol. the same would apply for carmel valley/del mar because of the schools.
my uneducated guess would be that you can expect single digit % changes (+ or – over the next year or two) but that the prices in these areas will do relatively well compared to inland areas of the county.
the high end homes will see a big drop, though. i hope good ol’ toni cieri has made her money because she has three signs practically on the same street in del mar. her asking prices are in the 2 – 4 million range. the homes in these ranges will correct first in a big way.
