This is exactly what is going to happen to many, newer condos in San Diego. Once those have taken a beating, this will establish the going price for similar condos. Then the SFR’s will follow. Miami was just as big of a boom market as SoCal.
BTW: I’m sure that many of you saw the link that was posted several weeks ago to the auction of new townhomes in Fort Myers, Florida. They also went for 50% off.
