These coastal areas will be the last to fall in line with top tier income earner affordability. The inland areas are becoming more reasonable very quickly and since I’ve got pressure to buy is probably where I will go.
The up side to these houses not coming down in price is that they are not moving inventory at all in this market. I’ve got multiple houses in walk-to-surf neighborhood I rent in sitting for 3+ years on the market. They will move when the sellers get a clue.
