You are correct, i should have stated “looking to buy”. And no, there is no official data on that $250K number. Im just using anecdotal info.
The people i know who are looking to buy, would like to, live in PB are the young professionals in the $70-80K range. 3x 10% down is about $250k ish. That’s all.
If they’re married, they probably would go for a house on the hill @ $500K.
Hey, ill admit, those numbers could easily be wrong.
Im just throwing in a vote that PB will be affordable again to people in that price range. And a decent house on Lajolla will be under $1M.
Patience, 8% ++ interest rates, and the foreclosure wave sweeping towards the coast.
Im not betting $100 or anything on it, im just hoping it happens…….until inventory and foreclosures drop or prices pencil out to rents, im not buying anyway……
