Quote:
Originally Posted by the
The areas in So. Cal. that lead the bubble have now reverted to 2004 or so pricing, and are headed to 2003 pricing.
That former $664,000 will also go down to where it was worth in 2002/2003. At best.
|
While I can't predict the future, I have to disagree. Time will tell but IMO this area is near bottom, maybe falling another 2 or 3% and then level off and start back up. The houses that fell to 2004 pricing were a different animal: larger, more exclusive, and much, much more expensive.
We'll have to revisit this thread in 6 months or so.