Bugs,
that is the scary part. That old saying about birds of a feather. Well you want to live in an area with the same income level that you’re at. People at different income levels have different expectations. You’d hope in an area that has an average home price of $800k that it would be quiet and that the majority of people are working professionals and will not be partying it up on a wednesday night. Now all of a sudden the builder decides the 3000sqft homes won’t sell and put up a bunch of 1500sqft homes for $400k. Is is a different demographic now. All of a sudden things change.
The dumb San Diego thought that an area must be good because its expensive does not hold true.
If you look at an area like Rancho PQ. 5 years ago the avg home price was $200k. Now you move in for $700k, your mortgage is probably 5 times higher. You have no equity and are barely scraping on a $130k salary by while your neighbour works at a 7/11 and is paying $800 a month for mortgage.