[quote=bearishgurl][quote=briansd1] . . . “Moving on up” families won’t even consider Chula Vista. The growing sectors of the San Diego economy are tech, biotech, health care… Those jobs tend to be located north of I8, so it makes no sense to even think of McMillin houses in Chula Vista.[/quote]
There’s only one problem here, brian. First-time buyer families who have not saved 20% down for the property in the area they desire are NOT, in any way, shape or form “moving on up.” They are first-time buyers who have to start somewhere.
In SD County, there has always been an obvious disconnect between what a first time buyer can actually BUY with the resources they have and what they are claiming are the minimum requirements for their first home. This statement is just as true today (if not truer) as it was in 1975.
It is what it is and, as a FT buyer, you either accept the inventory available to you in SD County or live elsewhere.[/quote]
You really underestimate the ability of a FT buyer these days…Why do people automatically assume FT buyers don’t have 20% down? I don’t get this… I really don’t….I can’t think of anywone that I’m friends with who were FT buyers who didn’t have 20% or more when they bought their first home. For folks that didn’t, those folks rented….
