Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!
During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.
Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!
It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.
We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.
It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.
