[quote=jficquette]
Median income in San Diego is around $60k or so which equates to $200k loan.
[/quote]
I think some have already beat the Median income thing around enough, What that means (and this is just a guess) is you take 100 people 10 to 15 make around 100K a year, 7 make around 150K a year, 5 make over 200K a year and most the rest making minimum wage or a little better.
Had to edit my guess a little.
I think you also need to add into the calculation that 20 or more percent bought their homes in the mid 90’s or earlier (or inherited them) and they aren’t going anywhere.