[quote=juice]Just to add my two cents here, all that is necessary to prove the point is to have a large enough number of qualified, upper income buyers not in aggregate, but simply relative to the supply of attractive 1+ million homes on the market in a very specific area, coastal San Diego. I think this is clearly the case when you consider the distribution of wealth in the region, not to mention buyers from outside the state and country.
Additionally, consider that many professionals in the most desirable areas have dual incomes and bring in over 200k+ a year. I can think of endless examples of North County couples we know who both work – one a doctor, one an engineer, one a pharmicist, one a sales engineer, one a teacher and the other a CPA. Again, overall they may represent a small percentage of total families, but in sheer numbers they are sufficient to provide continued demand for those houses.[/quote]
I agree with this whole post. We know several dual income professional couples who are significantly over the 200k sum. And yes, it’s not the percentage of them, but how many there are. That’s not even counting folks with old/inherited money.
