Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
