[quote=sdcellar][quote=AN]One big caveat is, I only believe this is true for some areas. Places that have been hit 50-60% off peak, I think would be hard press to drop much more if at all.[/quote]Absolutely, some are at either bottom or a virtual bottom. Others, like that 2/2 in north park, they’ve got a ways to go.[/quote]
See, “bottom” isn’t such a dirty word, now is it? :-).
[quote=sdcellar] Bubbles would indicate otherwise, but sure, in the *long* run there is a causal relationship between wages and house prices (duh). I think it was Shiller who said, “people need to be able to pay for the f’in places.”[/quote]
This is my whole point. Just different way of stating it. Not all area are out of reach. If people are able to pay for the f’in place, they’ll buy it.
