Sure there are / will be declines in some areas. What about the >20% yoy INCREASES in other areas such as Allied Gardens etc (from yesterday’s UT article).
Again, I’m predicting ~10% decline in SD MEDIAN sfr resale prices over ~ 6 yrs. Could you eventually buy property in certain areas ie Escondido for >10% less than today’s prices? Absolutely. 50% off SD MEDIAN?…no way. I’ll take that $500 bet!
Just like the last downturn outlying areas ie Escondido & Temecula will soften first because of distance from major job centers… especially if gas is $5/gal! ;(
