[quote=gzz]I am just telling you what the economists and demographers who study these issues for a living say.

Population growth is a pretty minor factor for housing prices that is easily outweighed by others. Del Mar’s population fell by 12% since 1980. How did real estate do during that time? ).[/quote]

Which economist? Do all agree, or just the ones you follow? Regarding pop growth being a minor factor, I agree to a certain extent. Long term though, a declining population is devastating to an economy which also affects many other areas including housing values. Also your example of Del Mar is not a very accurate depiction considering the infill location. I think places on outskirts would be more prone to devaluation.

[quote=gzz]
My comfort level and space requirements were largely set growing up in suburban 1960’s houses of about 2200sf on big lots. I did not like being more cramped when I first moved here. It was like a slight background anxiety was lifted when I moved to a bigger place with more space and privacy (and I could do so within budget).[/quote]

We can disagree, but I believe that just like money, home/habitat follows a u shaped curve with diminishing returns and actually takes away from happiness after a certain point. Malcolm Gladwell covered it in his latest book David and Goliath.