I second that, Powayseller. The only thing I might add is that the $600K homes may need to come down even further than $300K…unless wages are increased to an adequate level.
Your point is so banal, yet so sagacious. Middle class San Diegans simply cannot afford to live here without the need for some risky, exotic loan vehicle. The sad part is that the media (the UT in particular) had given warnings in years’ past about San Diego’s dwindling middle class. It’s funny how we choose to have selective memory with certain things.
