San Diego Housing Bubble

Heather Miller argues that San Diego is in a housing bubble:

Dan Driscoll, a Southern California realtor for thirty years, retired this month and moved to Phoenix, Arizona. More than a few Californians joined him. He says that 70% of those who purchased a home in his Phoenix housing development have California addresses. It costs you 40% more to rent a U-haul going out of town than coming in. A 24' truck costs $599 to rent headed from San Diego to Phoenix and only $136 from Phoenix to San Diego. Why? Supply and demand. U-haul explains: "We can't get our trucks back here, everybody is going the other direction."
Dan Driscoll and other realtors say the same thing, "the market peaked six months ago."

Read the whole article it's worth your time.