at the active/pendings (less than 2/1) in La Costa Valley and the recent solds. Those are prices moving up not down. The premier properties are moving quickly. Again, I’m not sure why but that is the fact. Over in La Costa Oaks the best bargains are the builders closing out their last homes and there are still speculators which is why I think you’ll see more listings and more downward pressure than in LCV. LCV has about twice as many homes in the development yet there are more listings in LCO.
I also just noticed the main body of this thread and the author is talking about buyers of $2,000,000 homes and how lenders like NEW ceasing funding are going to affect that market. I’ve never heard of anyone using a subprime loan to purchase a $2,000,000 home. In this area there are lots of people that make $300k and more a year and they can afford to spend $8-10k a month on their home. The ratio’s for how much of your income you should spend on your home do not apply to high end earners because 20% of someone earning $400k is more than 60% of someone earning $100k. The amount you spend on food, gas, clothing, etc is the same no matter what you earn. It’s the same thing with retirement planners saying you need to have 80% of your peak income in retirement. Well, if I earn $500k and save about half of it every year because I live frugally, I sure as hell don’t need $400k per year in retirement when I was only spending $100k per year raising a family of 5. These ratios seem biased towards people that spend all of their income.
