I agree with both of you in high-end neighborhoods like La Jolla, Del Mar, RSF, CV, etc. Yes, there are lots of all-cash buyers, people living off investments, and so forth.

But it’s not quite the same in working-stiff neighborhoods like RB (non-Santaluz), Scripps Ranch, PQ, etc.

I’m not surprised there are $1.4M homes for sale in Muirlands – on a bluff, with whitewater ocean views. I remain skeptical that $1.4M for a 4000 sq ft tract home in 4S or Scripps is sustainable. The fact that many have been sitting on the market for close to a year adds to my doubts.

As always, real estate is hyper-local, we can all agree on that at least.