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I've always argued that basic 1/1 condos in Central San Diego should be no more than $150,000.
Consider that HOA and taxes alone equal the cost of sharing a house with housemates. Few singles or young couples can afford to buy their own 1 bedroom condo.
3905 Leland St San Diego CA 92106
Good size at 818sf
Purchased 10/2002 $240,075
Now listed at $150,000
1992 price was $118,000
Will we see 1992 prices again?
A lot of 800sqft and smaller apartments were heavily bid up during the bubble, so it stands to reason some will see heavy correction. Who would buy a 550sqft apartment for $250K? Well apparently nobody anymore!
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