San Diego Housing – Darkest Before the Dawn
It's always the darkest before the dawn. The market still needs to adjust…..housing values need to continue to come down from their unsustainable peaks, leverage in the markets need to be reduced to manageable levels and America need to come to grips with their fiscal situation. Some adjustments are still happening and some are almost done. Some still need to be addressed. Nobody said this will be easy and quick. Nobody said it will be pretty. But it is the price we must pay for the good life we've been living that we never should have been able to afford in the first place. At some point, we will bottom out. The world will be at a new state of equilibrium….a sustainable one. And once all the mess has been cleaned up, we will have learned from all this. We will look to our leaders to establish new principles and policies to ensure we will have lasting prosperity for us and our children.
People are afraid of what this new equilibrium will look like. I'm pretty sure our standard of living will be lower than what we were used to over the past 10 to 15 years. But that's temporary. It will come back in time. But I can assure you, the world will be a very different place. It already is….
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It seems San Diego has gone from boom to bust overnight
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Real estate should always be thought of as long term investments. People who buy properties whether in San Diego or anywhere else must realize that the potential for loss is ever present.
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Tough times in real estate may change the San Diego conventional wisdom that you can never lose in real estate.
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