Give Carmel Valley some time. Sooner or later businesses will start leaving San Diego because they cannot attract talent here due to high cost of living. Then all of a sudden someone who was comfy in CV in a 4000 sqft making 200k a year is out of a job looking to move.
Yeah whatever. Techies these days that are making mid-sixes usually don't have to work for a company located here anymore. It's called tele-commuting to the Bay Area. And one thing for sure.. No matter how ridiculous your pay might be here, it's even more ridiculous in the Bay Area, so relatively it's still cheaper to pay someone here than over there. And in case you haven't noticed, Bay Area is picking up significantly again. I've worked with a few companies down here, that are all HQ'd in the bay area. Salaries are comparable to the Bay Area, because of the entire salary equalization thing.
But guess what? If there is a mass exodus that happens to these folks, I think most everyone else will be hit too. Why do people keep thinking that those that make the mid-six figures losing there job and move out will be affected ,while others for which are dependent on those people (retailers,support,etc) won't???
I would say these folks are probably 20% of the population overall. BUT, i would also say it's the 20% that still spending and keeping the rest of folks employed. Is this a concept that's hard to grasp? Take a look at higher end retail like Sak or Tiffany and Co and compare that to lower end retail like Walmart over the past two quarters. Which did well, and which ended up eating sh*t?
