As for someone falling in love with a property, you can make that argument for any location. We really like Coronado and would like buy a house and stay. However, even with a good chunk in the bank and great credit, the prices are beyond what is reasonable for us. It doesn’t matter how much I love it, I can’t afford it.
It used to be that an officer family could buy a lower end SF here. I don’t know anyone who can buy now. I have not met an officer family who owns here unless they bought before 2005. Prices have to come down before that pent up demand can be captured. In order for prices to be sustainable, you can’t lose demand to other areas (because of lower relative pricing) and you have to replace the demand by military folks who used buy here.
