“If San Diego’s market does what I expect it to do, there will be distressed units in Liberty Station for $600K’ish in 2011-2012”
Whewshish! I really really hope you are right! In the meantime I hope the equitities market remains strong while RE tanks but I suppose that should be a new topic
Beatus ille qui procul negotiis … paterna rura bobus exercet suis, solutus omni fenore….. Horace
4plex actually I thing your statement is one of agreement. I don’t think there is an argument of whether it will go down… the previaling thoughts are that it will be sticky or stickier compared to other neighborhoods which so far has been the case. If your prophecy of 600k by 2011 or 2012 rings true then that would certainly validate the sticky point, (Personally I am hoping sooner then that). I assume also that you are referencing the 1900 sq foot models (as a minimum size) for 600k. I would agree with your assessment 100% and HOPE that they will be even cheaper then that by that time. I am not so sure that Liberty Station will see anywhere near the distress that we have seen downtown. I don’t feel the level of speculation was as high there. It is not a question of will it go down, it is just when will it go down. Absolutely agreed that there is ALOT for sale there. So far it has been stickier then other neighborhoods. Hopefully we will see the first chunk down this next year.
4plex actually I thing your statement is one of agreement. I don’t think there is an argument of whether it will go down… the previaling thoughts are that it will be sticky or stickier compared to other neighborhoods which so far has been the case. If your prophecy of 600k by 2011 or 2012 rings true then that would certainly validate the sticky point, (Personally I am hoping sooner then that). I assume also that you are referencing the 1900 sq foot models (as a minimum size) for 600k. I would agree with your assessment 100% and HOPE that they will be even cheaper then that by that time. I am not so sure that Liberty Station will see anywhere near the distress that we have seen downtown. I don’t feel the level of speculation was as high there. It is not a question of will it go down, it is just when will it go down. Absolutely agreed that there is ALOT for sale there. So far it has been stickier then other neighborhoods. Hopefully we will see the first chunk down this next year.
