trust what expert say: san-diegos-housing-bubble-poised-to-burst soon. Don't trust stupid posters here they are illiterate ready to lose job and home
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Yeah, but if the neighbor gets foreclosed prices drop back to want it was 4 or 5 years ago, about 1/2 what they are in Oceanside today.
You won't lose anything if you manage your money and live within your means. While many honest people get victimized as well unfortunately, most of the people who lose all their crap are the knuckleheads that go out and buy a new car the day after they get a promotion or take out huge loans against their home equity so they can afford that stupid euro car and be gangster like their neighbor or whatever.
As the article points-out, this is on a neighborhood-by-neighborhood basis and impacts the ones where folks still hold mortgages.
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This could be devastating to San Diego's economy, not just real estate.
Lol. You confirmed my suspicion that you aren't a well paid white collar worker or Q engineers. Because you think 5000 construction workers are part of the buyer pool and were ever were able to afford to live in tier 1 housing locations in San Diego.? Lol... Again..try chula vista, Oceanside, or el cajon...which is probably all you could possibly afford too. Then again. Maybe not...
Stands to reason that a company laying off people will not be hiring construction companies to build more buildings.
Construction company lays off then.
This is how a 5000 person layoff at a higher wage company will kill 20,000 jobs in support areas like restaurants, construction, etc.