[quote=FlyerInHi][quote=The-Shoveler]
Housing is pushing further and further out (Job’s and industry are following).
[/quote]
For sure.
I drive the San Diego – Vegas route frequently, and I see it. LA will extend all the way to Victorville eventually, maybe with a high speed train to Vegas. Fontana and San Bernardino are booming.
While there is a place for the suburbs and the exurbs, there is a demographic desire for the city.
Back in the 90s, you could have bought a condo in Century City for the mid $200s, the same as a big house in Corona or Temecula. Not true anymore. Century city is now very sought after. You could also have bought a small rundown building in Hollywood. You’d now be an owner of store fronts and apartments above that generate rental income.
My bet is that the price gap between the city and suburbs will widen (as happened in NYC vs its suburbs); though, in California, the suburbs will do well enough thanks to population growth.
BTW, over the weekend, I was in Laguna Niguel and Mission Viejo visiting people. The whole sterility it all was such a turn off to me, though I do understand the attraction of it all. Miles after miles of the same thing. I’d rather live in the city.[/quote]
FIH, I agree that some cities in San Bernardino County are “booming.” Although the residential RE is still reasonably priced, the cities along SR-71 (SB Co’s western corridor bordering LA Co) such as Chino Hills and Montclair DO seem to be booming in that residential listings seem to be selling fast and for all cash. This (western corridor) of SanBern Co seems to be much better-zoned than the I-215 corridor of San Bern (which still has ag mixed with light industry mixed with residential).
As the earlier article linked here stated, I DO believe that from here on out, LA area millenials who want to buy an affordable newer house for their families and who can find well-paying employment in eastern OC financial centers will end up flocking to SanBern County (possibly Rancho Cucamonga and Fontana but not much further). However, the leader of the City of San Bern are still duking it out and mired with issues, almost all relating to their 2013 BK filing.
As far as those communities (in Riv Co) south of the former March AFB, well that’s a pretty far-flung choice for a multi-year daily grind to an LA/OC job. Temecula/Murrieta are actually better suited to an Inland North County SD job.
FIH, I agree that LA County homebuyers WOULD prefer urban such as Burbank, Glendale or even Pasadena but because of these cities’ excellent locations and architecture (ex: Pasadena), SFRs located within them are so cost prohibitive now (for those who do not yet own a home there) that only the wealthiest buyers can afford them. Even small homes listed under $800K in these cities often need $150K++ of work to make them habitable.
