Bugs, you make an interesting point about boomers helping prop-up the SD market. If you’re right, then the SD downtown market should be quite healthy in the future.
I’m wondering if San Diego will attract many millionaire retirees. Middle class retirees are better-off somewhere in the South.
If boomer-retirees start leaving the less desirable climates in droves for California, would the resulting cheap prices in those areas not convince many more to remain?
I was talking to an immigrant friend yesterday. His old sister and brother-in-law who are in their mid 50s just immigrated to Orange County and were lamenting the high cost of living. They have no money, need to learn English and have to start over.
I suggested that they move to Houston where there’s a large employment base and where brand-new houses can be had for $120k. They can work hard in the next 15 years to pay off the house then live-off of savings and social security.
