If the current economic recession turns into a depression and you have austerity, civil unrest, resentment towards the wealthy, a two-tiered society with a very small middle class, tent cities, etc do you think North County Coastal will be insulated from the collapse? Will wealthy buyers from out of state who are used to doormen in their fancy high rises feel safe in the area? Places like the Covenant in Rancho Santa Fe can afford private security but most HOA’s and people in non HOA’s can’t. Will NCC always weather any economic storm and hold its value?
