You bring up a great/logical point. However, logic and the housing market don’t go hand-in-hand. It might be plenty of pressure for the Mira Mesa to get down to reality because the local income don’t support/reflect current pricing. I do hope to a decent GRM or 3x income in the area. I’ve found a site that provides some interesting Demographics/stats for the area issued in 2005.
Income / Financial (Zip: 92126)
Average Household Income $79,268
Median Household Income $67,466
Median Income Under 25 $48,045
Median Income 25-34 $66,129
Median Income 35-44 $72,227
Median Income 45-54 $71,409
Median Income 55-64 $70,012
Median Income 65-74 $60,383
Median Income Over 75 $55,775
Percent increase/decrease in income since 1990 56.0 %
Percent increase/decrease in income since 2000 10.0 %
Average Household Net Worth $141,401
Median Household Net Worth $43,638
Average Home Sale Price $447,588
Median Total Debts $34,967
Sales Tax Rate 7.7500 %
Sales Tax Type PL
Average Total Household Expenditure $60,010
