San Diego in no way approaches NYC, Paris or London in terms of culture. Yes, we have the weather and a relax lifestyle. But as far glamour, resort cities come and go. There many beautiful and cheap places around the world to retire by the beach.
As far as San Francisco is concerned, the city is becoming so expensive that the bohemians who created its culture are moving away. The cost is preventing new blood from moving in. San Francisco is fast becoming a city of the elderly, the tourists and the immigrants. Remember, after WWII, SF was not anymore expensive than other American cities.
If you look at San Diego, except certain central coastal areas, the region is really Hicksville, USA.
I still think a 50% drop from the peak in San Diego is reasonable.
