Single family homes can now be had in the low 500’s on nice size lots with Low/No HOA or Mello Roos fees in the Encinitas/San Dieguito school district which are generally regarded higher the C’Bad. Dont know if Tramonto will get down to the 300’s (I think not) unless it is really trashed and in a horrible location.
As big as 2nd wave is, the holders of those loans have things most of the sub prime holders did not. Things like assets, savings, jobs, supportive families etc. not that there wont be failures but the rate will be considerably lower than that of sub prime.
