"10 Hard-Hit Housing Markets That Are Ready to Rebound"?

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Submitted by fsbo on October 2, 2009 - 3:00pm

"Sunny San Diego...Technology is really what will drive the economy once the recession is over...There are a lot of high value-added jobs that are in the metro area."?

http://realestate.yahoo.com/promo/10-hard-hit-housing-markets-that-are-ready-to-rebound.html

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I don't think the person who
Submitted by jameswenn on October 2, 2009 - 4:06pm.

I don't think the person who wrote that has ever really been down here.

I used to think technology was big in San Diego before I moved down here from Los Angeles. Once I got here, I realized that Federal jobs and tourism are the real driver of the economy in San Diego. It's not publicized because public sector jobs aren't as sexy as Biotech and Wireless.

If banks tighten up lending with down payments, i think home prices will get down to 3-4 times income levels.

jameswenn wrote:I don't think
Submitted by Eugene on October 2, 2009 - 4:25pm.

jameswenn wrote:
I don't think the person who wrote that has ever really been down here.

I used to think technology was big in San Diego before I moved down here from Los Angeles. Once I got here, I realized that Federal jobs and tourism are the real driver of the economy in San Diego. It's not publicized because public sector jobs aren't as sexy as Biotech and Wireless.

Technology is the primary reason why houses in Carmel Valley and Sorrento Valley are three times more expensive than identical houses in Chula Vista.

Silicon Valley and Seattle excluded, I don't think there is a single place in the country where technology is THE driver of the economy. But it is quite strong in San Diego compared to many other large cities.

Eugene wrote:jameswenn
Submitted by LesBaer45 on October 2, 2009 - 8:03pm.

Eugene wrote:
jameswenn wrote:
I don't think the person who wrote that has ever really been down here.

I used to think technology was big in San Diego before I moved down here from Los Angeles. Once I got here, I realized that Federal jobs and tourism are the real driver of the economy in San Diego. It's not publicized because public sector jobs aren't as sexy as Biotech and Wireless.

Technology is the primary reason why houses in Carmel Valley and Sorrento Valley are three times more expensive than identical houses in Chula Vista.

Silicon Valley and Seattle excluded, I don't think there is a single place in the country where technology is THE driver of the economy. But it is quite strong in San Diego compared to many other large cities.

Granted it WAS the driver. But is it still driving the economy? Or has it left town? (So to speak).

They used to say the same thing about the area I live. They don't anymore.*

*Except in the usual government sponsored propaganda and real estate pimping media vehicles.

LTE / WiMAX / RPC (Wireless
Submitted by Nor-LA-SD-guy on October 3, 2009 - 9:12am.

LTE / WiMAX / RPC (Wireless internet) are going to be HUGE !!!!

The only question is whether it will be done in India or the U.S.A,

Either way SD/OC/LA will morph into one large super city within 25 years that is the one thing I am sure about, Believe it or not the SD/OC/LA population is still growing at a very rapid rate (with both domestic migration and a lot more immigration from Asia " both legal and illegal immigration")

In this case it is really Location/Location/Location.
Fortunately or unfortunately depending on your view, Socal was and still is a target for super growth and will be for a very long time to come.

San Diego has always been its
Submitted by Hobie on October 3, 2009 - 9:53am.

San Diego has always been its own island of sorts. Camp Pendleton creates the buffer from the encroachment of the urban sprawl of the OC from merging into our little jewel by the sea.

Hope we never loose that priceless land!

Just checked out QCOM
Submitted by fsbo on October 3, 2009 - 9:09pm.

Just checked out QCOM website, and noted they keep hiring in SD area, any recession there?

That's the first place i
Submitted by jameswenn on October 4, 2009 - 12:21am.

That's the first place i worked when i moved down here. I've heard from old coworkers that they've been laying off in small numbers here and there to stay under the radar. I've also heard that the workload is high, which sounds like a good thing during a recession.

And while your at it, why not
Submitted by paramount on October 4, 2009 - 1:24am.

And while your at it, why not throw in that the Chargers should win the Superbowl this year as well.

What is the employment level
Submitted by wannabe2077 on October 4, 2009 - 5:51pm.

What is the employment level (number of employees) at Qualcomm in 2002 ? In 2006 ? In 2009 ?

What will it be in 2012 or 2015 ?

My understanding is that Motorola, Kyocera, Nokia, Sony are not doing well.

Without an increase in the number of employees in the tech sector San Diego real estate market is toast.

What a clueless article. In
Submitted by deadzone on October 4, 2009 - 6:33pm.

What a clueless article. In reality San Diego is losing high tech jobs, and more importantly to real estate values, there are no more zero down no-doc loans. And this is a recipe for home prices to rise?

Qcom website showing jobs availble doesn't mean they are actually hiring. I gurantee they are laying off more than they are hiring.