We just happened to find our “dream home” in our early 30’s, and were in a position to act. We’ve now been in RSF for over 20 years, and have done a complete remodel and expansion–in essence, almost a complete “tear-down”–over that time period. Same story for many of our family and friends.
Just a mere 20+ years ago in San Diego, as some of the other “elders” on the board can verify, it was really pretty easy to find and buy your “dream home” here.
Going back a little further, other examples are family members who bought ocean view properties in Sunset Cliffs and Point Loma in the 70’s and ’80s for between $70K-$100K or less, that are now worth $3M+++, and all were passed on to their kids.
I could tell you story after story along those same lines, because that type of pricing was the “norm,” for upscale housing until San Diego became an employment hub, and then all bets were off. Much like Palo Alto, and other areas that grew exponetially due to business growth, San Diego has followed suit.
I’m not sure we’ll see the same astronomical property value growth those of us who are older saw in past decades in the near future, (I’m sure kids who want to live here hope that’s true) and, although I know you want to take your time, I’d still say, if you do find your “dream home,” sooner rather than later might prove wiser.[/quote]
Oh, I believe you. I wish I’m 20 years older. Not only would I be able to get these dream homes at a much more affordable priced. I would able able to take advantage of the .com bubble, which would allow me to buy a few more quite easily. You older folks had it all pitched to you so perfectly. Us gen Y on the other hand graduated in the .com crash and when we got a job and saved enough money, we got dealt with the housing crash. Now, we have this anemic “recovery”. Nothing is going our way. Will we see a good growth period before we’re too old to work? I hope so.
