In my opinion, price will not get to 100x rent in San Diego county.. the only possible exception I can see are those cheap apartment conversions.
There is an underlying paradigm shift in that San Diego on average has more skilled two income families and 10 to a house wage workers than areas where that 100x rent my actually be possible… you add in a few shakes of desirability and that 100x rent guideline is a pipe dream.
Put me on record here as saying ‘no way’ to a median or any sort of average at 100-120x rent in San Diego… I’m not saying that I’m going to be right, I just wholeheartedly disagree with that as a realistic buy signal..
At 100x that means you could pay off a house in 10-15 years just off rental income? Not going to happen..
It’s like saying that 7 is the only P/E you should buy stocks at… yet Google was at negative P/E and anyone that bough it 2 years ago has already earned 300%…. I don’t even own Google, and the list of P/E debunkers goes on and on and on..
