“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”
I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.
For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?
