I don’t think what you said is true at all. I do not believe that an average joe blow can afford to buy the home in Encinitas. I also believe that if you took the median income for homeowners in this particular subdivision you will find it is much higher then the median in the country, in the state, and even in the county.
I never said Brae Mar was a playground for the super rich. Yet how many homeowners there in that subdivision that have a salary of 65k a year? My SPECULATIVE statement would be none. In fact, if you went and took a look at the 5 offers that the agent currently has on it, I would speculate none of those offers are from Joe Blows who earn what you are supposing they earn.
Brae Mar is no farther away from Sorrento Valley then 4S Ranch is. It is not as far away as La Costa Valley either.
Hey if you want, go ahead and presuppose that Brae Mar is going to fall to 440 or 500k. You think it is, I do not. I am not stopping you or calling names or anything like that.
So far there are 5 other offers on it and there is no speculation in that statement esmith. So yeah perhaps you are right. Go ahead and pull up a loan program in todays environment that will enable a median income wage earner to make the purchase like you said in todays world.
Personally I don’t see alot of that happening anymore.
I am not trying to say we are at a bottom now or anything like that. Please don’t confuse my posts to be cheerleading for the industry. I am just trying to point out what are facts in the here and now as well as my speculative opinion in the longer run. Perhaps I am way off. I guess we will see.
