Rustico: I live in Fallbrook, and it appears that the metrics for North SD County are clearly different from Central SD. Still, at $500/sf in a declining market, something has to give at some point.
I agree that prices must come down, it’s simple Econ 101 in the end.
Up here, there are now sign toppers appearing that say “Short Sale” or “Foreclosure” (I have one of the latter in my neighborhood and it is weird seeing that, to say the least) on quite a few signs. The signs that have been on the market longest nearly all sport “Reduced Price” toppers now.
All that being said, prices remain stickier than I would have thought. In your opinion, is there going to be some point where it just blows and pricing plummets, or will it be more gradual? Just curious.
