(local municipalities coffers have not recovered enough yet, unlikely they will let a significant downturn occur “greater than say 10%” without full QE in over drive). Anyway JMHO.
Only thing is that property prices NATIONALLY have risen only about 12% over the last 12 months. San Diego’s 20+% rise was an anomaly, and it could just as easily fall 20% without affecting national prices more than 10%.
I don’t try to predict the future…But I figure, if it comes to the point that I get screwed, other people will be even more screwed. So, relatively speaking, I think there would be bigger issues to worry about and I wouldn’t be the most screwed person… 🙂 With that, I don’t bother to worry about the state of the economy. I’m sure someone else will fix it…. Or maybe not….
