July 12, 2024

The latest Case-Shiller report shows San Diego homes lost 24.8% in 2008. Ihe 20-city index showed that no area experienced year-over-year price gains, the ninth straight month that has happened. 

Below is the Case-Shiller 20 city detail:

Home Prices, by Metro Area

San Diego home values 

(About the numbers: The Case Shiller indices have a base value of 100 in January 2000. So a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the metro market.)

Source: Standard & Poor’s and FiservData

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7 thoughts on “San Diego Home Values Drop 24.8%

  1. The thing that makes economics more of an art than a science is that conditions out in the real world are always changing. Wnile a laboratory experiment controls the circumstances, “the economy” at any given time is largely unique. Factors may be somewhat similar to other times, but economies do not duplicate.

    And the fact that economic cycles do not recur at precise intervals does not invalidate the cycles.

    Looking at the mass of derivatives we have currently and the direction we’re in, it is probable that there’s a long downside left in this cycle. And there probably isn’t a “cure”. The idea that there is some magic “right” thing to do to fix everything is a myth. A very popular myth. Especially among our “leaders”. The mantra of our leaders is “We can’t just do nothing” when doing nothing and letting the markets work their way out of it is probably as good a tactic as any.

    If humans were so damn smart they wouldn’t create messes like this in the first place.

    Riverside CA Attorneys

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