But while upper income buyers come out here to visit, how many leave their high paying East Coast jobs to move to San Diego and buy a home? The East Coast guy cannot replace his job or salary here. We have a net outmigration. So I don’t buy that we’ve got a bunch of wealthy individuals moving in to buy the glut of $1.2mil and up homes.
So the question remains: how many $1.2+ mil homes are on the market, and how many qualified buyers are there for those homes? And how do they afford them?
