FormerSanDiegan wrote:jstoesz

[jstoesz]

[quote=FormerSanDiegan][quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I am not disagreeing with your charts at all. I am just saying that a lot has changed

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.[/quote]

I guess people 30 years ago where cool with overpriced housing too. Or SD as a whole has gotten a lot worse. In addition, 30 years ago interest wasn’t at 3.5% either. Remember, never over pay for something no matter how cheap the money is.

My only rational justification follows.

Lets take this chosen at random closing.

home. http://www.sdlookup.com/MLS-100051052-5321_Peyton_Pl_San_Diego_CA_92117

Its 86 price in today’s dollars is 233k…it just closed for 485k.

So either San Diego got a whole lot crappier thus making Clairemont a more attractive neighborhood by comparison to all the other parts or everyone in SD makes a lot more inflation adjusted money money thereby doubling the value of everyone’s home, yet not improving the quality of the homes (a dubious supposition). Either that or that chart is not representative of Clairemont…