I bought my house in a gated community in 2001 in La Jolla Colony at $220/sq.ft. 20+ yr. old condos in the area are now priced at $450+k/sq.ft. The median income for a single person in San Diego is $47k and crawls up from there based on family size. There is an amazing disconnect between what people want, can afford, and 2006 pricing v. what they can borrow. If you are looking to buy go back to 2000 and look at the price per sq./ft. If you pay more than that you are buying the bubble.
