Realistically that’s more like a month to 6 weeks of supply in a market that usually only has 3 weeks to 2 months of supply. It would crash the local market for 6 months, depress it for a year, and affect prices for 2 to 3 years at minimum.
The point is it’s a band-aid, not a fix. And what would a depressed housing market look like in San Diego anyway? Probably nothing too accessible, tbh. It seems more likely that the people or investment firms with the assets to would swoop down HARD on that market unless it was part of a broader action at the state or national level, which would quickly provide for a price floor. A proper fix would involve aggressively adding to the housing stock continuously for years and years.
Realistically that’s more like a month to 6 weeks of supply in a market that usually only has 3 weeks to 2 months of supply. It would crash the local market for 6 months, depress it for a year, and affect prices for 2 to 3 years at minimum.
The point is it’s a band-aid, not a fix. And what would a depressed housing market look like in San Diego anyway? Probably nothing too accessible, tbh. It seems more likely that the people or investment firms with the assets to would swoop down HARD on that market unless it was part of a broader action at the state or national level, which would quickly provide for a price floor. A proper fix would involve aggressively adding to the housing stock continuously for years and years.