Quote:
Originally posted by Wayne at Pelican Parts
It is my estimation that property values will go down about 30-60% over the next five years...
-Wayne
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Put me down as one who disagrees.
There is no investment that carries the tax benefits of home ownership. Also, the California real estate market is truly global. When prices dip just a bit, Asian and European buyers step up. You may see prices soften in outlying areas that are not as desirable, but the better addresses in California are rock solid. (Just my opinion
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In my area, the houses over $2 million fluctuate a lot, but the "average" homes seem to appreciate continually despite economic changes.