I guess Gen Y has no problem at all with massive congestion and hard-to-find street parking (as in MM, Chula Vista 91914 and 91915 and other lizardland-type areas of the county).
Last night, News8 had a longish spot on how Chula V (primarily 91915) increased in sold prices 18% (IIRC) in the 4th quarter of 2012. This area of SFR’s, condo and townhouses of 6-12 yrs old is among the MOST congested in the county. So much so, that only ONE VEHICLE can pass at a time thru many of its residential streets due to maxed-out parallel-parking on both sides of these narrow “streets” and those infamous (useless if one can’t make a tight quarter turn in a narrow easement with their monster SUV) “rear-garages.” And most of the multifamily projects down there have inadequate off-street parking and NO garages.
Why should I care about this? Even though 6-12 mi away from me, I actually think this is good news. Rising values in shackville will no doubt eventually lift all those “squat-mod owners” (there were thousands of them) out of their underwater status. If all that *new* heavily-taxed and HOA’d inventory in southeastern ChulaV gets bought up, ALL boats will be raised.
Then those folks with generous close-in lots in 91910, 91911 and 91950 (myself incl) just might be able to get multiple offers from young buyers, due to “low or no inventory” available in their “preferred adjacent-but-distant” lizardland 🙂
