So true. Nobody likes Nostradamus’s. They get easily banished and dismissed as “doom and gloomer.”
Over a year ago, this soothsayer also shared the crystal ball insights saying that San Diego prices in general would drop to about 50% off the Oct-2005 peak after October 2009. Nancy got nothing but dismissive comments.
And now, finally, even the sage of the land, Mr. Bugs, is now quoting 50% drop. He is easily swaying new converts. The 50% prediction is now becoming the general consensus around here. My, what the hay, HOW TIME AND SENTIMENTS HAVE CHANGED since you posted the original thread.
To be specific, Nancy’s crystal ball picks this one “invesuckment” as an example. The owner’s net worth is all tied up in this money pit.
Cyrstal ball says, it and similar houses (and there would be many distressed houses nearby) will have a very hard time finding buyers if they were to sell for more than $460K (50% off) right after October 2009. The credit contraction occurring now will make sure of that.
