I’m in RSF and am starting to hear the stories of reduced income, cutting back and ‘not having such a great of a year..” Most of these people own their own businesses of varying size.
There certainly are lots of folks who are doing well – even in this economy, but I was shocked at how many will openly admit that things are tough right now.
Often times, they discuss the fact that their properties and other fixed expenses are draining their funds. IOW, less coming in – with financial commitments based on former income levels.
My concern about SantaLuz is – are there enough high ticket buyers who actually want these houses at all right now? There are literally hundreds of $2M+ homes in SD and most of them seem to be sitting…and sitting…and sitting. SantaLuz certainly doesn’t stand out in my mind as a top pic within a group that includes Del Mar, RSF, La Jolla, Fairbanks, etc…
