[quote=EconProf]
To be clear, I thoroughly enjoyed living in San Diego and still miss aspects of it. But as a long-time real estate investor, I fear for its future and thank Piggington for the opportunity to warn others.
[/quote]
I share that fear but have faith that things usually work themselves out in the end. Sometimes it just takes awhile.
[quote=EconProf]
Above all, CA politics are driving away families and blue-collar types who hope some day to own a house. This will likely accelerate, since CA is 2 to 1 Democrat vs. Republican. It was evenly balanced when I came here, and our housing prices were very similar to other big cities. Now the flight to cheaper states will accelerate.
[/quote]
You always seem to ignore when we point out there is not one California.
There is coastal California that is very rich and Democratic. There is inland California that is pretty poor and Republican. People can still buy homes inland at affordable prices. Just as folks can in Utah. Because in many ways, inland California is a lot like Utah.
[quote=EconProf]
I suspect Piggs are well above average in income, home ownership rates, and neighborhood quality. But it is a bit unseemly to laud the runup in prices and rents considering who it hurts. Yes, I know–I benefited as well during my decades of investing in San Diego RE. But RE investors should look at long-term demographic trends in their decision-making.[/quote]
You made a decision that is best for your situation, no one can argue with that. If it fits you best, go for it. I wish you the best.
