SD is my hometown. I grew up in inland North County. As my new bride & I prepared to move up North for college (1997), our sweet elderly landlords offered to sell us their 2 bdrm San Marcos condo for $87k (< FMV even then). They even offered to sell to us on installment, holding the note themselves. Being the ever risk-averse accountant, I respectfully declined because the property would not quite cash-flow as a rental & finances were tight. Unbeknownst to me, this was a crucial step down the road to being a bitter So Cal renter. Around 2005, we started looking to move back to SD. I found a unit in the same San Marcos condo complex selling for $380k. Despite the “sticker shock”, we decided to move back anyway. We sold our modest 4 bdrm home in South Spokane at a tidy gain, and my young family (3 small kids) moved in to a nice rental in La Costa where my monthly rent was slightly less than double my mortgage payment in Spokane. I knew before we moved that we would not be able to own a home right away, but I honestly thought I did not care about owning a home anymore & as long as I was back in SD, I would be satisfied. I was wrong about that - I've been obsessed with owning a home since we returned. I discovered Piggington just after moving back, and found Rich's analysis to be very much in line with my suspicions about this over-inflated market. I've really enjoyed everyone’s analysis - especially perrychase, powayseller, bugs, sd realtor, sdrealtor, PD, sdduuuude, formersandiegan, and rankandfile. There are some brilliant people posting here. After almost two years, we have decided to throw in the towel. We’re closing on a house back up in Washington in a couple of weeks. Despite myself & all I have learned here, I am really excited to be a home-owner again. Even with all the knowledge in this website, I personally feel renting really sucks! I hope someday the San Diego market will return to fundamentals if not soon. But for those of you living in other states wanting to move to Southern Cal, do your homework! Be aware almost EVERYTHING in your budget will be more costly than it is outside of California. Not just the obvious housing costs, but groceries, preschool, healthcare, car insurance, gas, etc… and for goodness sakes do not assume that because the weather is way, way better here that you will get a big break on your utility bill. Even with all the extra costs, I believe San Diego is the best place in the country to live – just leave no stone unturned in your deciding whether it’s financially viable. Unless you make well into 6-figures, be prepared to rent for a long while. Please be aware that when you have kids, being okay with giving up your home to renting requires a different mindset. Sorry if this might all seem obvious, but it was not to me two years ago. Thank you everyone! May you all find a decent home with a 30-yr fixed payment that you can live with!! Warmest regards, RenterClint (soon to be HomeownerClint)