two. this housing slump is different from the last one, because in the early nineties, there were vast undevelopped lands in camel valley, on the corridor of now 56 higher way (4S, Del sur, torrey hills etc.). But this time what’s left there?
I’ll agree that its different this time. Given that this run-up has been ten years in the making AND since the tech bust has been feeding on itself, I’ll suggest the grand unwinding will be apocalyptic.
As for whats left, next time you are downtown after dark, take a look at all the condo towers with dark windows. Those aren’t all second residences for globe-hopping playboys. Nevermind the thousands of units already in the pipeline…
