So the North Cty Coastal area has not experience the inventory spike and decreased sales, as the rest of SD County. Then to what do you attribute the price decrease – rising interest rates? Have you noticed credit tightening?
I moved here from Phoenix in 1999, and when we were looking at homes in 2000, I noticed that the prices had jumped about 30% between 1999 and 2000. So that’s when the unrealistic jumps happened, from a buyer perspective. Why do you think it was still realistic in 2003? Are you using per capita income/median price, or rent ratios, or are you going on the fact that there was lots of momentum, speculation?
