Submitted by Chris Scoreboar… on January 31, 2007 – 10:00am.
However, I think the chances of a 50% decline off the top are zero, I am in the 20% – 25% camp, with 10% already in the books.
Its going to decline to where fundamentals dictate. Instead of actually discussing percentages we should look at that.
20-25% might be well the fundamentals if there have been a lot of high paying jobs that have moved into the area. I however think all the high paying jobs have been sent to India and China and the late 90’s market is itself a fantasy.
Typically 3X income is your house price. If its a great area maybe 4X income. Assuming all of the greater SD is a desirable area (and yes some of it definetly is) that is my thought. Maybe wages will sky rocket in SD and make it so in the next 2-3 years.
Cool.
Cow_tipping.
