[quote=joec]The problem, bg, is I think you are stuck in your own mindset like a lot of people…Making 100k+ is nothing and I made more than that 15+ years ago. It’s also dependent on who runs in your social/professional circle. Sadly, I know many people it seems making lots of money, so much money, they don’t know what to do with it all as well as dual doctor families clocking well close to a mil in income alone and biz owners with ferrari’s and millions.
You add in family help for all the asian families buying in CV (all the folks I knew in the bay area had family help buying mil+ places with ease) and they don’t buy these places to rent out, they buy them to live and raise their family/kids in and go to school in the area. My parents have even offered me hundreds of thousands in help if we needed it for who knows what so I’m guessing for some and quite a few, if the parents can help (since that generation didn’t really spend money), getting the down payment can make many home payments as easy as anyplace in the other “CV” down south.
All that said, I think for some people, they just can’t see why someone would pay anything for something which they don’t see a value in.
For me, I guess it could be makeup, shoes, clothes, perfume, bags, pedicures, haircuts, etc…
All worthless items that you should pay close to 0 for IMO if you could.
Also, some people like small backyard homes (me, less maintenance, landscaping) and don’t care for a view, etc…My house could be a shack with no windows for all I care since I always close my blinds anyways and turn off all the lights. Really, it’s just people rather live in CV (with their taxes and all) than maybe other areas with more land and less tax. Also, I think asians like living around other asians (prob true for most races actually) so some people will NEVER buy in certain areas since the food and demographics don’t match where they want to be.
If I wanted “character”, I’d watch a good movie with a well developed character or be careful who I date…I don’t need “character” in a home and I don’t think the thousands buying in CV or many other tract areas care that much about “character” in their home.
For Poway…I assume true in San Diego Unified, maybe less so in Carmel Valley, but some schools are always viewed as “the best” with their own foundations raising thousands or hundreds of thousands of dollars to get more ahead.[/quote]
joec, I’m not “stuck” in any particular mindset. I’m a “realist” with a Capital “R.” I do realize that a $100K annual family income isn’t really much in coastal CA counties. And that is as it should be. If an employed SD County newcomer’s adult family member(s) don’t want to work FT and no one in their household has any form of passive income, then that is the lifestyle that family chose. If they don’t want to accept housing that is on offer in SD County for their income level, then they would do well to move to an inland county where they will have better luck finding more “affordable” housing for their chosen lifestyle.
It’s been that way as far back as I remember. Nothing’s changed here.
And the parent contribution to public schools you speak of happens ALL OVER THE COUNTY, joec! In South County, one of the BIG extra-curriculars which is primarily funded by parent money is their vocal music departments (for the renowned traveling show choirs of EMS/HS, BVMS/HS and CVMS/HS). There are also other sporting activities which get a ton of parent financial support, including fund-raising activities run by parents. Carmel Valley parents DO NOT have a monopoly on this phenomenon. Believe it or not, there is BIG MONEY all over the county from willing parents ready to contribute!
As to Asian (Chinese?) population housing preferences, in particular, the Chinese LOVE Walnut, CA (for a current example city, currently starting at $540K for a SFR).
The Chinese are even highly representative in Walnut’s very few condo complexes (from the high $300’s). Not EVERY Asian (Chinese?) buyer feels they need an Econobox! In LA County, there is a pronounced dearth of “Econoboxes.” The vast majority of SFRs in the San Gabriel Valley eastward to the San Bern/Riv County lines have an avg of 1600 sf and are situated on 7-10K (avg) sf lots.
Why is this so, folks?
Uh, well, LA County’s (and their respective cities’) leaders DIDN’T SELL OUT to Big Development in past decades as did SD County and its cities’ leaders. They left their open space OPEN (as it still is today). So, the vast majority of tracts there (95%) were built before 1980.
These jurisdictions’ leaders were consciously and purposefully more far-sighted when in came to the ongoing quality of life for their citizenry … UNLIKE SD County’s (greedy) leaders.
It is as is should be.
The same is true of the wise leaders of San Mateo and Santa Clara Counties (Silicon Valley).
The $64M question is, why do San Diegans (as a collective CA coastal county population) owe any newcomer working in a tech job the opportunity to purchase new construction near their jobs? The truth is, we don’t owe them a damn thing! They can buy or rent what is currently available or commute a long distance daily from a dwelling which is newer … OR decide NOT to take the job if they don’t like the housing choices on offer. It’s a free country.
The truth is, with ZERO high-tech jobs available in SD County, it would still survive just fine. (Our local govm’t would have been much better off fiscally if the all the residential construction built since 1992 did not exist.) A very large portion of SD County’s populace are “retired” or otherwise self-sufficient (not reliant on a high-tech W-2 job for their sustenance).
The reality is that SD County never needed ANY new construction after 1992. There was more than enough housing at that time to accommodate the existing population. In fact, the “recently laid-off” and “lower-income portion” of its population were moving OUT of SD County in droves at that time!
The existence of “subdivision hell” (built mostly since 2000) all over SD County has all but destroyed the quality of life for every resident, including those who were here long before SD was even “on the map” for any high-tech companies to consider relocating to.
Obviously, we can’t turn back the clock. And we all have our (current and former) elected leaders to thank for the fallout of their prior (shortsighted and unwise) decisions.
