Hi Powayseller – Right now if renting works for you, I think that’s wonderful. However, I don’t see coastal values falling 50% over the next five years and don’t know if I would base my entire real estate strategy on that notion.

Certain areas may see that kind of correction but in my opinion, values along the coast will not correct to that extent, if at all. And if it doesn’t matter to you if you eventually end up on the coast or not, well then the choices you have made are fine.

I see coastal California values (especially in San Diego) staying flat or even increasing a bit over the next several years. The west coast is the edge of America and there is a lot of wealth chasing a very limited amount of livable land near the coast (especially in th prime coastal areas), not to mention the tremendous pressure by environmentalists to limit development in the coastal zones, which will continue to exert upward pressure on values.

I’ve lived on the coast my entire life (58 years) and I have never seen a correction that even comes close to 50%. To the contrary, I have seen values steadily increase, albeit very slowly in some years and dramatically in others but overall, a steady increase.

Secondly, at this point in his life, my son plans on attending UCSD (my alma mater) for his undergraduate studies as well as medical school. He is just 16 but has traveled extensively around the world, visiting many beautiful places and he has come to his own conclusion that he wants to live in San Diego, where most of his extended family also resides (several dozen realatives).

Both my parents were native San Diegans and my wife’s parents have lived here for more than 35 years. So he has a lot of history in San Diego as well.

I honestly believe he will marry a local woman and be blissfully happy here. If he decides he wants to live someplace else, I will totally support him in that decision.

I have always taught him to think for himself and be an independent spirit and he is very mature for his age. But I honestly think he would be hard pressed to find a nicer area to raise a family than San Diego, all factors considered.

About five years ago, after returning from an extensive summer cruise abroad he told me that he was convinced that he lived in the best city in the best state in the best country in the world. He hasn’t waivered from that belief since making that statement and is excited by the prospect of raising a family here.

Also, all the things that are important to him as recreation (swimming, sailing and surfing) are available right here in his hometown (he is also a San Diego native). His is pretty engrained in the San Diego (California) outdoor lifestyle. He has spent a lot of time traveling in Florida and on the east coast in general but the humidity is not something that agrees with him (or me).

I feel confident that he will create his life so that he can live where he chooses to and a job will be secondary to his choice of domicile. Could that change? Sure. And if it does, well, I guess I’ll just change with it.