Does it count if you’ve lived here since you were a teenager?

I know I wasn’t in the market for a house at that time and, as teenagers will, didn’t keep very close tabs on real estate (I know I should have…)

I’ve been in San Diego since 1983 then moved away for a few years for school. But, no, I was not born and raised in San Diego.

A lot of people who bought a long time ago and don’t need to sell are fine. However, they are living in dated homes and can’t afford to fix them up, unless they pull equity out.

With the easy credit of the last few years, I wouldn’t be surprised to see many long time owners get in trouble because they refied money out of their homes to live the California lifestyle and to invest in more properties.

It’s not when you bought that’s important. It’s how much you owe and whether you can afford the monthly payments.

Leverage can amplify gains greatly but can also put otherwise well-to-do families in the poor house. See the colapse of the subprime hedge funds.

At the trough, I expect to see a lot of Del Mar,Solana Beach, La Jolla, Coronado, Point Loma, PB, OB, Bay Park properties come on the market. I don’t know that for sure, but I’m gonna sit back and watch the show.

We are only in the early stages of a downturn. Anyone who’s been around real estate cycles knows that the talk of recovery this early is ridiculous.

You appear to be implying that the analysis of non-natives is somehow different than the analysis of natives

Am I reading something into your post that isn’t there?

I’m bearish and I was born and raised here. Born in ’76, lived most of my life in La Jolla, moved to LA for college, came back and lived in Crown Point for ~8 years and now live in Bay Park.

I am a native. Born in ’67. Lived in RSF, Solana Beach and Coronado all of my life (with a few years abroad in different countries). When deciding to ‘settle’ … this bubble sent us packing. We live in upstate NY now.

born and bred since 1968

I am not a native. I moved to San Diego from the midwest in 1995. All the natives and long-time SD folks told me that real estate sucked then. I ran the numbers and decided to buy a house in Clairemont for 160K. My neighbor said I overpaid by 5K, but said thanks for raising the comps in the neighborhood.

10 years and two houses later I took my 350K of equity and reluctantly moved away (job opportunity).

Still own (well I own about 50% of the house, the bank owns the other half) a coastal rental property that I hope will someday allow me to come back and semi-retire in SD.

Although I have only spent 25% of my life there (so far) I consider San Diego my hometown.