The way I see it, he’s saying that as more and more bottom fisherman comes in, we’ll see a slow down in decline. It doesn’t mean that we’re at a bottom, but it would be near. Also, you can just paint San Diego in a single stroke. Places like Mira Mesa is drastically different than Carmel Valley when buying as investment or if you use rent as your benchmark for reasonable pricing. Also, you cannot count out soft landing offset by increase in inflation. Only time will tell how this will play out. We all are just trying to read the tea leaves and bottom fisher, sale volume, and inventory are just some of the indicator.
