[quote=jpinpb]Sure I can afford to live in the outskirts or ghetto. Just b/c I can afford it, doesn’t mean it is a good financial move, or even safe move.
There are some pretty cheap homes that have come up in City Heights that are close to 2001 pricing. Just b/c I can afford it doesn’t mean I should buy there just for the sake of living in San Diego. While I’m not aspiring to live in Del Mar or La Jolla, I’d like to do better than City Heights.
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]
jp, if you currently live in PB, I’m sure you know that it is a move-up area. I think it would definitely be cheaper to rent than buy in PB.
The vast majority of first-time buyers would not be able to buy in PB and would not expect to be able to.
I agree with you that City Heights is definitely the bottom of the SD barrel when it comes to RE holding its value. I would not recommend buying there for any reason, whether for a principal residence OR rental investment.
But there must be some zip codes that would be a “happy medium” for you to shop in . . . no?
