“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
