What you don’t mention is how long you plan on keeping the home and/or staying in San Diego.
I think you have to go into a home purchase with the mindset that you’ll keep it at least 5 years, and hopefully 10. Property values will be higher in 5 years in most cases, and will surely be higher in 10 years.
If you’re planning on selling in 2, 3, or 4 years – well then it all depends on how much risk you are comfortable with. There certainly could be a temporary price dip in that time period.
Another reason to buy: sounds like mortgages will be easier to get in 2015, which means more folks will buy, which means more demand on the housing market.
