Moody’s Economy.com Inc., a research firm in West Chester, Pa released a report last week says that median house prices are likely to decline more than 10% over the next few years (already has in many areas of San Diego) in 20 metro areas, including Las Vegas, Tucson, Ariz., and Washington, D.C.
Plus, the Moody’s report also says that the slump won’t end quickly. According to the report, prices may keep falling until 2008 or even 2009 in some areas. In all, prices are falling or likely to decline soon in about 100 metro areas.    Search the entire San Diego MLS.
I believe there was a show on TV called†Flip This House†for real estate speculators this was another sign of an overheated bubble.
Grant
San Diego California Dentist
Yes house prices might fall even more than during the great depression but maybe there are just different drivers and each depression will be driven by completely different circumstances. Maybe a recession would not be a bad thing over the long run.
Alex
Downtown San Diego California Tourism