I agree with sdduuuude on this one.
The number one reason is LOCATION.
Try buying a new house in Ocean Beach, Point Loma, Bay Park, Clairemont, La Jolla, Pacific Beach, Mission Hills. OR for those LA folks, where on the westside are you gonna find a new home development ? Playa Vista ? That sucks.
In any event the resale housing market numbers did suck today as you anticipated, latesummer.
