[quote=EconProf]Thanks for all the feedback, both positive and negative.
First, I agree with the crotchety old man description. You young whippersnappers may some day come to the same conclusions as me.
To be clear, I thoroughly enjoyed living in San Diego and still miss aspects of it. But as a long-time real estate investor, I fear for its future and thank Piggington for the opportunity to warn others.
San Diego RE prices are having somewhat of a sugar-high due to factors that are largely temporary: unusually low mortgage rates, an influx of sellers of LA and Bay area properties, and the artificial shortage of buildable land (ocean, the border, Pendleton, mountains, etc.). Above all, CA politics are driving away families and blue-collar types who hope some day to own a house. This will likely accelerate, since CA is 2 to 1 Democrat vs. Republican. It was evenly balanced when I came here, and our housing prices were very similar to other big cities. Now the flight to cheaper states will accelerate.
I suspect Piggs are well above average in income, home ownership rates, and neighborhood quality. But it is a bit unseemly to laud the runup in prices and rents considering who it hurts. Yes, I know–I benefited as well during my decades of investing in San Diego RE. But RE investors should look at long-term demographic trends in their decision-making.[/quote]
um… I call bullshit on that one. You don’t give a shit about us. $20 says you’d much rather see things blow up just so you can rub it in others faces that you are right the rest of us are wrong. Just like others that came before you, you’re not here to really objectively present facts good or bad or care for us because you have a truly since worry for anyone here….please….you’re here like a few others… to look for things to prop up your biased conviction ax grinding mentality and will only look for things that support your biased thesis.
There were many people that came before you for different reasons…
There were those looking for the impending doom and gloom of the great recession would bring 50% off of coastal properties. The folks from say New York city that don’t live here even.
Then there was the know all be all from Chula Vista that likes to compare lizards in far flung areas to Chula Vista.
Then there was the people looking for reasons to justify peak oil.
And the list goes on.
All you people all roll the same way. You are loopsidedly biased based on a bitter, crash, sour grapes mentality, and initially focused on looking at any shred of negativity not support your lopsidedly bad convictions and the longer things go the other way against your conviction, you dig even deeper into a bigger hole reaching for even more far flung poop to try to stay relevant, hoping that eventually the clock shows correct time after it’s long stopped. You dig yourself in this mess with this warped crass conviction, and while no one is really laughing in your face about it, you obviously feel like you need continue down this path to seem relevant, even though you are in Utah now and should be enjoying your time spending with your family and the beautiful places the state has to offer, or even share a few pictures of where you been…because I don’t think if you did that anyone would throwing shades and say Utah is shit, wow those landscapes look like shit, the same way you are kinda going about the CA bash-o-matic non stop…If people are saying you are a cranky old fart, well it’s because you’re acting like one when things don’t even concern you anymore since you’ve long exited CA and even if the state blows up, doesn’t concern you. Get over it.
