Sdduuuude’s comments about inflation were very interesting and a good addition to the forum. I took exception to his snide tone.
The truth is that we don’t know for certain how far down it will go. However, there are already some neighborhoods in San Diego that have seen over a 10% drop from the high already and it is just getting started.
I’ve posted before about a friend in Rancho Bernado. A very comparable house to theirs sold at the high for $650,000. Another comparable house went into escrow in February for $590,000.
Another friend in Rancho Bernado has their townhouse for sale at a good discount from the high and they don’t even have any nibbles. They say their street is awash in for sale signs. This is not going to stop at 15% for them. Their faces were quite grim when they told us about their situation. They are military and are moving in one month. How long will sit empty before they start slashing the price?
