[quote=deadzone][quote=sdrealtor] We are a magnet to people from all over the world now[/quote]

Classic Realtor talk. As if San Diego wasn’t popular before Covid. This is the same type of realtor talk we heard back in the 2000s to justify the crazy prices in San Diego.

The Covid/Remote work related distortion is just a temporary blip. The main factors for price appreciation are crazy amount of Fed induced money, which has been going on since 2009. The Fed Balance sheet chart is all you need to look at. And for Covid, the rent and mortgage moratoriums are a major factor. As I understand, if you are a landloard and wanted to sell your house at today’s crazy prices, you couldn’t do it.

Fact is, RE prices are at all time highs and inventory at all time lows ALL around the country, certainly not just San Diego or CA. Look at St George Ut from the other thread, its everywhere (except Cleveland). Suggesting this is primarily due to rich folks moving down from Bay Area is non-sensical. If that were the case, then Bay Area prices would be going down with all these folks leaving to come to San Diego.[/quote]

The irony is that even if you bought a house in 2004, and were able to hold on, it would be pretty good now. I remember when we sold a 3/3 crest delmar townhome and thought it was crazy people were paying $620k for the townhome..My coworker sold the same townhome floorplan in the same complex a 2-3 months ago for $840k. I was shocked.