[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.
So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]
Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.
I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.
