San Diego has, in many ways, been the epicenter of the housing bubble in the USA. And as a new year begins the double dip in the country’s most speculative regions worsens. San Diego is just a microcosm of the bigger problems. According to Voices Of San Diego the year is off to a bad start as prices fall almost 5% in one month. Is this a sign of bigger problems nationally or just a highly speculative region that remains volatile? One thing is for sure – the double dip is here (via Voices On San Diego):
“The first month of 2011 was unkind to home prices, at least as measure by the median price per square foot of resale homes sold during the month. From December to January, this measure of home prices declined by 3.0 percent for detached homes, 7.2 percent for condos, and 4.5 percent in aggregate.”
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