[quote=deadzone]That makes sense. Given SD real estate prices took off like a rocket way ahead of the rest of the country from about 1998-2001. (before the credit bubble hit and the entire country took off from there). So the assumption would be that from around 1998-2001 ish there was definitely some significant real economic growth in SD.
However that should be no surprise as we know SD high tech industries really took off during that time, especially wireless and biotech.
Maybe more interesting, how does this data look from 2005-2010? Even more important, what is the current trend.[/quote]
Based on my observations from L.A., San Diego started to draw people from L.A. in the early 90s because of the telecom and biotech industries. From what I’ve heard over the past few years, these industries are stagnant to declining. I’m one of the people who moved here from somewhere else, but it was because housing was more affordable here vs. L.A. (wages were also quite a bit lower here). That is changing now as home prices aren’t much more affordable here, yet wages for non-tech jobs are still lower than in L.A. from what I’ve seen.
Either way, davelj brought up a good point, and I’m willing to say that housing prices here should be 23%+inflation from 1995 levels. Are we there yet? (I seriously don’t know.)
