That sort of prediction is dangerous, very dangerous, especially if its true. I don’t happen to think it is, but lets just indulge that fantasy. If prices were to rapidly decline say 50% over two years. That would mean a substantial contraction in the economy, forcing tens of thousands of white collar people to sell there homes quickly. I can think of only three things that would cause that.
1)Economic collapse
2)Terrorism
3)Natural Disaster (Other than Otay Mesa, which already is)
In that scenario, we would all baten down the hatches and get out our shotguns. I certainly wouldn’t be out house shopping, Id be hoarding, and so would everybody else.
Josh
