I too agree we have a large inventory, but I also see some longer term problems on the horizon. Us baby boomers are probably not going to aleviate to oversupply, as most of us are no longer in home-buying mode. The other thing we’re gonna do is add to the inventory as we die off or go to the old folks homes. Don’t forget we are a hugh population spike traveling thru time.
Projecting another 100,000,000 people in the next 40 years. San Diego to double in 25. I know about the baby boomers. I’m one. many will downsize and live in their own until they need assisted living.