Look, during the housing boom, the desirable areas rose first. When that price is too high or unaffordable, flippers went to to less desirable areas. Now, the reverse is true. The less desirable area has drop about 30% in San Diego but the desirable area has not take much hit.
My guess is that we will see more drop in undesirable area until it hits the point that it is worthy while for the investors to buy as rentals. At that point, it is time to get back to market to buy at desirable area.
