The point I was trying to make is that you should be careful extrapolating based off the circumstances of people you know. It’s not likely to be representative. There’s a lot of inventory out there and I’m sure you and your circle of friends could talk yourselves into buying because all you see around you is prosperity and people hungry to buy. That may not be the case for the majority of twenty- and thirty-somethings.
As for Lucera, that may seem like a good deal, but keep in mind that La Jolla Crossroads is still building. A recent ad on craigslist showed they were offering 860 square-foot 1-bedrooms for between $1350 and $1500. Given all that though, there’s no doubt that someone buying now will be much better off then someone who bought 2 years ago.
I also agree with you that it’s important not to get caught up in the groupthink that can happen on a Web site like this one. Just as its important not to get caught up with the bubble-frenzy crowd, its also important not to become overwhelmed with fear lest you miss opportunities. For example, I’m still making periodic contributions to mutual funds through my 401(k). The market may continue to go down for the next couple of years, but since retirement for me is at least 15 years away, I believe I’ll be in a good situation years from now because I continued to invest in the stock market during the down times.
