[quote=reddgreen]I wouldn’t say immune, but there are quite a few European buyers that would like to have a nice house by the sea in beautiful ‘Diego
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Reddgreen, I keep hearing about foreign buyers, but I don’t see the sales stats to support it. Inventory for LJ (at least in houses) is way higher than it was a year ago and sales are way down. While this thread is meant to show that prices are down even along the coast I would definitely agree that they are not down like they are in Temecula or Inland Empire.
I think everyone forgets that foreigners have a huge number of choices, not just La Jolla. Del Mar, Coronado, Rancho Santa Fe, to name only a few locally, but there are considerably more when you expand to the whole USA. (Like Cape Cod, or Martha’s Vineyard, or Nags Head, or Carmel, or Santa Barbara and Montecito or go into the mountains and cities and there are even more choices) Conversely, there are only so many ultra rich foreigners buying trophy houses in the USA these days, and with the rising dollar it makes it all the less affordable for them.
