Buying a House/Condo in SD? Don't Think So.

I've been looking since last year for a place to buy.  After waiting for about a decade for real estate market to finally come to its senses, I figured this was now the right time.  So what do I find?  I find that to buy a place in my range, I'm getting elbowed out by all cash offers from investors.  This article from Voice of San Diego describes EXACTLY what I am going through.  My offers aren't bad.  In fact, I've been told that my offers would be "contingent" offers in case what sellers accepted didn't go through.  But I am not doing all cash offers -- my offers still involve loans and downpayment.  And how many have I offered?  I'm pretty sure I have submitted at least 10 offers to buy condos with no luck.  I stopped counting.  But like most buyers who actually want to live in the property they buy, I'm also not going to increase my offer to a price that is not reasonable.  If investors want to be stuck with property that they can't even walk away from (all cash offer means you can't just walk away to leave it to bank for foreclosure if you can't flip or find renter) because they think the real estate market is going to turn around that quickly, good luck to them.  I sense that most prudent buyers who didn't get caught up in real estate frenzy (as most comments posted in the article show) will rather sit by frustrated than throw more money than what the property is worth.