After 1 year I decided to check the San Diego Market again. And as I had mentioned a year ago, the price trends were especially disturbing for San Diego in June of 2007. Many so called “Experts” on this board laughed. I guess they are not laughing now as parts of SD County are off over 50% in less than a year.
I guess “Late Summer 2008” wasn’t such a bad prediction after all. I noticed La Jolla got hit pretty hard last month. I believe that is a great leading indicator on what’s in store for the Westside of Los Angeles. Beverly Hills, Santa Monica, Malibu, Pacific Palisades, and Brentwood all just starting to feel it.
The coming Alt-A and Prime Mortgage Meltdown will continue to hammer the high-end areas next.
