Indeed, I was only considering how dependent the local San Diego economy was on real estate and related industries. And I still feel the comparison is apropos, when any economy becomes over-reliant on one industry its risky business.
Something thats ‘worse’ about SD vs. Detroit is that the auto industry didn’t build equity for home owners. It wasn’t like every resident got a free classic muscle car when they bought a house there. Contrast with San Diego, where lots of folks became REI speculators when they bought into property they either couldn’t afford, or re-financed it into oblivion.
