I’ve said it before, and I’ll say it again now- 4S is Alt-A and option arm toxic mortgage central. I wonder what the average household income of 4S is. I would wager a lot of money it doesn’t support $800K+ homes with traditional fundamentals. At least not the number that exist in 4s.
People with the kind of income that support those prices want to live in La Jolla or at least Carmel Valley, not 4S. Don’t get me wrong, I like 4S, and house prices there are starting to get tempting. I suspect they will only get better from here.
