One more thing to consider is that the path to homeownership here for most does not begin with a house.

It never has.

I bought my first place in Encinitas in 1997 for $190K scraping together a $10K down payment. It was a townhouse and I felt like the stupidest guy on the planet spending that much and not getting a house.

Two years later I sold it for 250K and was looking to take the next step up which was a starter house around 325K at the time.

I saw some new construction around here. It was the first in many years but it was a much bigger stretch. I would have to take 2 maybe 3 steps up to $400K for a new house. It would also require lots of post move in expenses not the least of which was $50K+ of landscaping. It was scary and a big stretch. But I recognized it was the opportunity of a lifetime to get an amazing place. One I could stay in for decades. Had I not done that I would never be where I am and here I sit.

I share this as an example that the path here unlike many places is a ladder to climb for most. It requires steps, patience, some luck, some good choices and yes some guts.

And in case you are wondering rates were around 9% back then which I couldnt have swung. I started with a 5/1 ARM at 7.5%

And VP’s in financial services are a dime or dozen. Basically marketing title for financial advisors with several years of experience but no real management role over employees