Exactly. The reason you are surrounded by Californians is because you are in the ritzy neighborhood. You are looking through skewed glasses. The folks coming from other places aren’t moving into your neighborhood
3 years ago I sold a house in my neighborhood for 900k and today it’s worth about 1.8 so you are falling further behind. And you’ve fallen a lot more since last Spring too!
As an Econ prof I shouldn’t not have to lecture about the balance of supply and demand😂. You have tons more supply than my town with less people and a lot more being built. An independent eye would appreciate the better investment
As for what $1m gets you? Here it gets you extraordinarily valuable land. An asset that appreciates. A good analogy is we are driving Ford pickups and parking them in ocean view parking lots. There it gets you a nicer house on land of little value. A house is a rapidly depreciating asset. A good analogy is your thinking you are living the high life driving a Mercedes S class but you are parking it in a sink hole! So who is the real conservative here? Whose the political conservative and who is actually living a prudent conservative financial life? Enjoy your ride pimp daddy!
