I foresees another year of San Diego home value erosion. The only bright spot in 2010, was the Federal and California state home buyer credits that artificially created and temporally created a modest home value, short lived average price up-tick.
Some of my reasoning for continued San Diego housing trouble ahead in 2011, are the attitudes formed toward homeownership by first time buyers, the impact of California's own Cap & Tax energy program, past overbuilding of high end homes based on false loan qualification practices, and the large amount of foreclosures banks still have to process.
Read: San Diego Real Estate Market 2011 Outlook for the full article on the housing outlook for San Diego in 2011. Plus, if you want to stay up to date on the San Diego real estate market be sure to get a free subscription to the San Diego California housing market blog.
Wednesday, January 12, 2011
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