How much has rent increased in that area in the last few years?
Isn’t it a possibility that rents will decrease also? Especially if we are getting a raise in rates perhaps in the near future?
I think it’s very possible for prices in mira mesa to still decline a bit. How much, who knows. Interest rates have to raise, and we still have loan resets coming. I don’t know many that want to live in Mira Mesa (I want to, but so many seem to stereotype it a bit). If prices start declining in other areas, then MM becomes even less attractive.
Like I said, I’m not an expert, but just trying to make sense of things.
Asian, I know you are very familiar with the area, are you saying the average house price should be 325k then?
