Point taken. I am impressed with how well PB has held up.
Just to be clear, I’m not on record as saying a nice house will go for 300k in PB, but even 500k would be way off the peak from an area that was supposed to be immune.
My hunch is that some of the young families with 2 kids that bought a 650k 1400sqft condo with a 2 car tandem garage had planned on selling a couple years later for 850k+ and moving up into the La Jolla school district. When their neighbor goes into foreclosure and is picked up by an investor for 350k – 450k, their plans will be ruined. Walk away or put up with with the new next door renters… affluent SDSU students doing 2 story beer bongs.
Just to be clear, I like PB. I just think it is a bit over priced for what you get. Run out all the riffraff, and I’d move back.
