The reason I suggest waiting 2-5 years is the historic housing cycles in San Diego last 5-7 years up, 5-7 years down. Rich’s Bubble Primer is a classic. Look at his charts, and extrapolate 5 years out.
One caution – the rental market is extremely tight right now. Vacancies are low in rentals, and landlords have been able to command big price increases. People are turning to rentals instead of buying, making the rental market squeezed. We haven’t built apartments in a decade, and many apartments were converted to condos for sale, thus reducing apartment rental stock even further. In the long run, reduced population should ease this condition.
