I always said we are in 1990

[PerryChase]

City or County officials in San Diego all work for development interests. They know exactly what’s going-on. What they do about it is something else.

San Diego is a big city with a small town atmosphere. The good-old-boys’ club is very much alive and running things here.

[barnaby33]

Plus and this is strictly me speaking for me. I don’t want San Diego to grow. People leaving is not a bad thing to me. I may not be able to stop SD from growing, but growth is not an endless mantra. Its time at least for now seems over.

On a higher pardigmatic level, there isn’t anything the city/county could do. The forces that shaped this bubble are global, and we are mostly powerless at this point to do anything but take a front seat and watch.

Josh

[powayseller]

waiting hawk, the peak prices for condos was the spring of 04. SFH peaked a year later. Just goes to show: real estate is a slow moving ship. It took over one year for the downturn to move from condos to SFH.

[VCJIM]

There was one other factor that contributed to the early-mid 90s decline in So Cal real estate that I have not seen mentioned here: the 1994 Northridge earthquake. At that time, I lived about 20 miles due East of it and remember clearly. Many of my friends and co-workers were displaced, not only in the valley but in Hollywood, West LA and Santa Monica. Some people left purely out of fear. Houses in Northridge and Chatsworth and most other parts of the valley to lesser degree could be had for a song for the follwing 1-2 years.

I do not know if there was a direct effect on SD real estate, but I imagine it had ancillary effects.

[bob007]

i do not expect an immediate collapse in real estate prices.

i prefer a long slow painful decline. i hate to see the economy tank and affect other people not involved in this boom.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

http://www.thestreet.com/_yahoo/markets/marketfeatures/10305904.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

The street.com got another article about how the housing bubble popping is leading to economic melt-down.

It’s getting very loud this storm is

[Bugs]

The media coverage is going to exacerbate the declines, just as it did for the increases.

[Author]

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