“Housing is and should be 2 to 3 times more expensive than places like Phoenix, it always was in the past and will be in the future, but 5 to 10 times?”
I call major BS on this one. A friend of mine bought a house in Vista for 265k that was practically brand new on a 1/2 acre lot and over 2000 sq. ft. Are you saying that this kind of house is 25k-50k in Phoenix? If you are pointing out that La Jolla is 5-10 times the price of Phoenix than I’ll give you that but your post implied all of San Diego. I see posts like this all the time these days and if you read between the lines what I’m thinking is that there are a large number of people who think they should be able to get prime coastal real estate in the best parts of SD for 2 to 3 times the price of a comparable house in ground zero areas like Phoenix and Riverside and they think that the only reason this isn’t happening is because of the federal government.
“”resilient” is not a reasonable word to use in describing the housing market. insane, fake, propped up, pretend, frightening, duct-taped-together, all right, but resilient?”
Another example of this mentality. Sure are there a handful of pockets of strength left in this beaten down and torched shell of a real estate market. But I for one would be very frightened if there wasn’t.
