Back to your SD County discussion, there ARE cities which one can purchase a SFR today for the same price (or slightly more) than those in Temecula. Yes, they may be slightly smaller homes (on average) but maybe not. Examples:
Santee
Lakeside
El Cajon
San Marcos
Oceanside
Vista
Fallbrook
Bonsall
Escondido
I don’t have to tell YOU that ALL of these locations are closer (some MUCH closer) to major job centers in SD North County than Temecula is. And all of them have reasonably-priced homes to choose from. I don’t buy the argument of “die-hard Temeculans” that the IE it is the ONLY place in SoCal to buy into for those families headed by FT workers who are in the the sub $500K homebuyer bracket. It’s not.
My point here is that most SoCal homebuyers whose jobs are NOT in the IE CAN buy a decent home much, much closer to work for the same or similar price as a home would cost in the IE (but w/o MR and HOA) but consciously choose not to. Yes, even today! Listings for these (mostly mid-century) ranch-style family homes of 1100 to 1900 sf abound in at least 30 (inland) cities in LA County. The same mid-century family home costs slightly more ($0 to $80K, depending on location) in at least a dozen cities in the inland OC. Again, with no MR/HOA expense.[/quote]
The problem BG is that you’re missing the point – it’s not just about being close to some fictional job center.
And the market bears this out….hard to argue with the market.
It’s not unlike cars: you might like a certain car and think it’s the best car in the world, but let’s assume that car you like has a crappy residual value.
Again, you can’t really argue with the market – the market is all knowing. It is what it is…
Temecula is packed with people for good reasons….
Another example: There are also good reasons why so many commute from Manhattan to Stamford, Connecticut. 1 hour each way daily!
