This guy was a genius. He came up with a roller coaster as a model for housing prices in the U.S. He used data that had adjusted housing prices for inflation.
I think anyone who is thinking of buying a home in San Diego needs to see this.
I personally predicted a big real estate crash 4 years ago because the growth just never seemed sustainable. Although I know in San Diego they are not making any more property, and it is about the best place to live in the world, it still just got out of control.
I am still amazed that the prices are still as high as they are. By the way, I own my condo so I will suffer along with everyone else if the prices drop.
Long term I am sure San Diego real estate prices will climb as they always have, but I really think in the next year or two there will be a big drop.
Either way, this roller coaster animation is facinating. It lets you feel just how big the drops and climbs of the real estate market have been in a far more viceral way than anything I have seen before.
When you get to the very end, make sure to look back at the top of the mountain where you started. You may have to watch it twice to see what I am referring to, but I think it will be worth it for you!
- Posted in: San Diego