[quote=flyer] . . . I think we’ll continue to see a lot of turnover in years to come as some realize they can’t afford to retire here, while others arrive and start the cycle all over again. It’s been that way for decades.[/quote]It has. But only for the transplants who are unrealistic and expecting to automatically have the discretionary income they had back in the locale they moved here from (with lesser-expensive housing). Or expecting to have the same type of house and/or live in the same type of area they had back in the area they moved here from.
For those who are more realistic and move here with eyes open, obtain employment right away (preferably FT) and start working (yes, BOTH of them if they plan to be co-buyers here) and live below their means for their first years here to save money every month, I believe they will be able to buy a house. It may not be the all-brick 3000 sf mcmansion on 2/3 AC that they had back in TX but it will be a house with their own yard.
flyer, I believe you are referring to more recent (unrealistic) transplants to SD County who insist on “having it all” the minute they get settled in SD. And possibly transplants who first moved here 8-12 years ago and accepted a NINA mortgage to purchase a house beyond their means and later lost it.
A good portion of the population in SD County WERE “transplants” at one time and are now retired locally with defined benefit plans. This group did all the right things to remain here for life and are still living within their means in their retirement.
I see these unrealistic delusions being played out (and sometimes attacked by the locals) in one (expensive) US housing market after another on the city-data.com forum. Most of these inquiries come from the Gen Y crowd and in some cases, the “bored housewife” (a bit older) sitting at home while kids napping/in school and dreaming of relocating to SD/HI/CT/Boulder/Aspen/Malibu/Fairfax Co, VA/West Palm Beach, FL, etc.
I find it hilarious to read these threads. One of my favorite (repeat) questions is, “What can I rent in Boulder for $650 month? We have no kids but two big dogs and are outdoor people who need to be by hiking trails and close to the mountains.”
