The problem is too big, and the wheels that are in motion cannot be reversed. Governments will not be able to prevent the inevitable.
San Diego’s government probably doesn’t even have the money to put the telephone lines underground – they will not have any meaningful money for this.
San Diego homes will not be worth what they were during the bubble times for a long, long, long time, and there is nothing a government, local or federal, can do about it.
Government is too inefficient (i.e. they will recognize and act on problems too slowly). Even when they begin to act, it is unlikely to have much of an effect on prices.
