[quote=AN][quote=permabear][quote=SD Realtor]The median home price has never matched up to any other averages, not now, not 10 years ago, not 20 years ago. It is doubtful that they ever will.[/quote]
Even in San Diego, 200k is a GOOD salary. Look at any of the city-data.com stats and it’s in the minority of incomes, even in 92127 or 92130. People earning 200k should have a nice selection of 4x-5x income homes to choose from, eg, 800k-1M.[/quote]
Did you cut and paste this post from 2005? I see plenty of great houses in the 800k-1M range. People making 200k+ have to look for a smaller place a way out? What’s considered small (4000 sq-ft)?[/quote]
I’m looking at 92131, 92127, and 92064. If you’re making 200k, you’re in the top 5% of earners for any of those areas. That means you should be able to afford the top 5% of homes. I know 92131 inside out, and here’s what I see.
Here’s a home that’s in the top 5% in 92131, at $1.2M:
Fell out – “need new buyer”. Good value for the home itself, but no backyard.
I’ve been in all of those homes, and they’re nice. But if you’re making 200k all but the last one are too expensive, even by SD standards. And the last one is a heavily remodeled tract home; it’s not in the same league as the first two. Would love to see counterexamples.
