Thanks SD Realtor and others for your replies. SD Realtor, although I didn’t like your response at first blush – I was looking for a simple hard number – it definitely makes sense. Home prices in 2001 or 2003 don’t tell us much about the future prices.
But, for argument sake, even if we used the past prices as a reference, don’t we have to throw inflation into the mix to figure what the future home prices ought to be? For eg, if we wanted to consider 2001 prices as reasonable(325k, as someone pointed out), don’t we have adjust it upwards by the amount of inflation (that would make it worth around 400k now)?
Another related question – are Rancho Bernardo and Rancho Penasquitos ahead of Scripps Ranch in terms of price decline? Do people consider RB and RP as reasonable alternatives to Scripps Ranch?
Thanks once again everyone!
