Tom Fudge: You know what's happened to the San Diego housing market. Sales are down, home prices are down and forclosures are up. And most economists say it will be at least a year before the market begins to bounce back. So far, we haven't heard anyone say the housing market will never recover. These things go in cycles. San Diego will not stop being a desirable place to live, and eventually homes will be a hot item again. People are looking forward to this because home construction is an important part of the San Diego economy. But consider this: Even when housing prices bounce back, we will see some significant changes in the home industry. San Diego is running out of buildable land. And that means the future of housing construction will be a future of in-fill developments and small developments. The days of building Otay Ranch and 4S Ranch are over. That means some real changes in the way we live, the way we build homes, and the way we pay for parks, schools and libraries.
Guests
- Gary London, president of The London Group - Realty Advisors.
- Tony Pauker, in-fill developer and a development consultant.
