Underdose, I think that in order to have housing actually rise in price, we will need to have wages increase so that the debt can be sustained.
In the long run, fundamentals *always* win out.
And median income in the fundamental. High unemployment plus falling wages is indeed the swan song for the SoCal RE market.
There is no way to re-inflate the housing bubble, short of imposing price controls and actually paying people to buy homes. I can’t imagine that ever happening.
