Some knowledgeable folks are buying homes in San Diego.

Ratcliff, a University of San Diego economist who makes his living forecasting the housing market, hopes to close escrow next week on a three-bedroom house in a northern San Diego neighborhood known for its good schools.

“I may not have exactly timed the bottom,” said Ratcliff, who paid 25% less than what the foreclosed house sold for in 2006, “but I think we’re close enough that I’m comfortable.”

Los Angeles Times