While I think that it’s unlikely that we’ll see big price declines in that area to historical levels, it’s possible that some other areas will have bigger swings.
One of the big drivers at HB is the gentrification that’s occurred over the last handful of years. Twenty years ago, HB had plenty of ding-dongs that gave the area a war zone feeling. (Henry Rollins did a great job of documenting this in one of his books, I can’t remember which) For whatever reason, you just don’t see those kooks very much anymore and the place feels much safer. Lots of families and a smaller group of retirees live nearest the beach nowadays. So, I think that the fundamental price support is at a higher level than it had been in historically.
All that is assuming that ‘below Adams’ is referenced to along or near Beach Blvd. The FV corner wasn’t very expensive ten years ago, that might return or might not. Hard to say.
