2010 San Diego Housing Market Setback Possible
brokerforyou.com Bob Schwartz
Don’t let all the hope and change in the air for the San Diego housing market cloud your good judgment. There is a real good possibility San Diego housing will experience another setback in 2010. The San Diego (at least the lower end) market has gotten way too far ahead of reality way too fast (not the first time for that) but they are actually going to get worse than before (probably without the drama of a near-miss meltdown of the global financial markets), and people will lose wealth in the process. The government will have to step-up as the safety net of last resort, but the lack of resources and the over-abundance of political grandstanding from all players will mean that if there is any action from the government, it will be too late and too little and the economy will simply have to find its own non-artificial bottom.