Look around. Defense industry has already been hit in SD…For the past 3-4 years…There’s been consolidation to the east coast on lots of scales from BAE to SAIC to if NG and LM…. For the past 3-4 years.
Where was the inventory impact then??? That’s right zip/nada/zilch…
Side note…said folks that worked at defense companies for a longer time have relocated to east coast got a nice relocation bonus and bump in pay. Most kept their homes here as rental properties, being that they have been here for a longer time and can pull this off…A few said friends leased out ther CarmelV homes for $3000+/month and are completely cash flow+ and have enough to buy a new home on the east coast.
Regarding younger defense employees. My guess is they were never compensated decently in recent time to allow them to afford to purchase in san diego by defense salary/comp alone. because we all know defense companies pay crap (yeah, sorry that hurts, but it’s the truth)…Maybe if they quadruple downed on Zynga stock or something….Oh wait, never mind…
I had hoped I was wrong about this. But at this point I think one’s odds are better at increasing one’s income to afford the newer prices versus hoping for a meaningful correction.
