Yeah, I’m wrestling with it too. To some degree, it’s almost a neighborhood by neighborhood thing, I think. I’ve been watching Bressi, actually I drove through it yesterday, and I saw a lot of for sale signs. I did some research and not much is moving in there at this moment. Perhaps the oppressive MR’s and $200 ass. fee is making buyers think twice. I think prices could come down 10% in Bressi with the stroke of a couple of pens, literally. La Costa Oaks, the Bay Collection, and La Costa Greens could be the same.
However, in neighborhoods with relatively low/no MR’s and reasonable association fees, like those mostly built in the 90’s to 2001 or so, and particularly those in the best school districts, your scenario of ‘digging in’ I think is very likely. The $700-900 range (middle class!?!?) in those better areas could actually do OK for some time to come, imo.
