Their total declines look downright tame compared to what most of this board tends to believe. For San Diego they project a mere 8.5% loss from the peak, which will bottom out in Q2 of 2008. A lot of other SoCal markets do break the -10% mark.
So yeah, looks like more “soft landing” predictions…
You must be saying the “soft landing” part sarcastically, true? Seems that way.
I think the conventional media must remain conservative in their reporting so that they don’t lose credibility. Just keep in mind the general trend of the reporting lagging behind actual events. At first the consensus was, “Real Estate never goes down,” to “the worst will be if RE goes flat for awhile,” to “we might see a slight 2% decline,” to now the estimated “8.5% decline in San Diego.” As you mention, many parts of San Diego have already declined more than that. The Mira Mesa area seems to be heading into panic mode from what I saw driving around two weeks ago.
I agree with you, sounds like pretty “tame” reporting.
P.S. Love the poorgradstudent call sign. That is soooo SD. 🙂
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