Flyer, it’s true that much of the wealth you see in property today (at least in SAN) was created by the foresight of previous generations. That’s why we’ve tried to keep most all of our properties over the years.
Our family has been around San Diego for about 100 years, and I could tell you great stories about the players in this city who were involved in everything from raw land deals to residential and commercial development. It’s really fascinating.
Long stories short–many kept their fortunes, some did not, but it has been very interesting to watch the evolution.