temeculaguy made a comment a while back that was interesting.
He said that because Temecula went first, it was able to crash fully before the government bailouts and stimulus was able to reverse the crash. And, because of that, the burst played out and they are coming out of it now.
Not a bad theory, and possibly one that applies to San Diego when compared to the rest of the country, which suggests the second drop may be muted here.
That being said, though, I’m on track for a move-up purchase in 2 years and I’m very happy that I’m not being forced into a purchase any earlier. I think that will be a lower bottom than we see today.
So, I think you blinked a little early, but it may not hurt too bad. If we lose another 10%, you are out 70K. Some would pay that just to not have a landlord.
Are you saying you just cancelled the purchase that just went into escrow – or you cancelled other purchases earlier ?
You’ll have to change your name to rentedFor10Years soon.
