San Diego real estate market about to implode

I'd put Miami, Phoenix and Boston at the top of my list. But San Diego? Oh, man, they're on a level all to themselves

Timber.

Friend of mine just bought a $700,000 2-bed condo downtown and moved in a few weeks ago. Says its strange, as he's one of the only residents. Yes, all the other units bought by speculators who are dumping as fast as they can (and they can't - no buyers)

Here's today's article:

San Diego County's median home price crossed the half-million-dollar mark for the first time last month despite increasing signs that the rapid run-up of the last eight years is slowing, locally based DataQuick Information Systems said yesterday.

KB Home has sold 71 of the 221 homes it has planned for its Campo Hills project, with the one-story units priced at $395,000 to $430,000.
The year-over-year increase to $513,000 was 4.9 percent above October 2004's $489,000, the sixth month in a row that appreciation has been below 10 percent.

October was the 16th month in a row that sales volume has declined on a year-over-year basis. The total last month was 4,155, down from 4,758 a year ago.

In a separate