[quote=temeculaguy]I was recently in Southpark … It was then that i fully realized the frustration of san diegans, it is as if everyone in the world got a christmas present and you got coal in your stocking. [/quote]
Thanks for understanding some of our pain.
True that the outerlying areas have seen the big cuts, East County, Chula Vista, Escondido. But Central San Diego and Coastal have been trying hard to hold on. I’ve seen condos take some big hits along those lines.
I’ve seen SFR suffer averaging 15 to 30% off. The higher end of the percentage were fixers. But recently, the pick up in inventory, the low rates, the FHA, the spring/summer shopping season, the tax incentives all have allowed for some bold pricing.
Honestly, I didn’t buy during the bubble b/c it didn’t make sense. I sure as hell am not doing it now. These don’t pencil out compared to rent, unless you’re putting 20% down. And it’s close to 2005 pricing when you had 0 down.
I see this and I don’t know if it’s the government’s way to insist you buy to strategically default or they just want you to be a mortgage slave.
These prices are shocking, stunning, baffling and boggles my mind. (even more so when you factor in unemployment – though improved – and underemployment – pay cuts, furloughs, uncertainty, etc)
And then when I see it sell, well, then, I just want to throw in the towel and wait unti it’s time for me to go to a nursing home and not bother to buy at all.
