I don’t think the person who wrote that has ever really been down here.
I used to think technology was big in San Diego before I moved down here from Los Angeles. Once I got here, I realized that Federal jobs and tourism are the real driver of the economy in San Diego. It’s not publicized because public sector jobs aren’t as sexy as Biotech and Wireless.
If banks tighten up lending with down payments, i think home prices will get down to 3-4 times income levels.
