[quote=FlyerInHi][quote=Jazzman]
My view is that RE has been highjacked in many places and these places share things in common. They tend to be English or Asian speaking, major metropolitan conurbations, with an industry that drives it and a government that accommodates it. In other words, a culture has been built up around it. [/quote]
You’re on to something… but when will it all unravel?
If you’re mobile and retired, then you have more choices… But what if you must live in London or Hong Kong. Your only choice is to live in a closet.[/quote]
The San Gabriel Valley isn’t going to “unravel” any time soon. Most of it is “self contained,” meaning there is an abundance of “mom and pop” and other closely-owned larger businesses there. In addition, there are lots well-paying jobs for its residents within a 20 – 45 min commute (west to LA and south to the OC). And they aren’t all concentrated into just ONE sector (ex: tech).
Of course, the SGV is still fairly reasonable to purchase a house in and never had the intense run-up in “values” (as did Carmel Valley).
The SGV is a great example of good bang for the buck in home values while still living in an inner suburban ring (having reasonable commute times) in a CA coastal county. And a new beautiful Metrolink station was recently finished almost 50 miles inland within the “City of Industry.”