[quote=sdrealtor]But the high end has fallen tremendously in certain areas. Not necessarily NCC SD but other high end areas across the country and in many parts of SD also. Were the policies set up to support NCC high end RE while allowing it to collapse in LV, PHX,FLA and even East County SD? This is utter nonsense you are putting forth.
Its the middle that is holding strongest as it should.
As for your certain circumstances, well everyone has certain circumstances specific to their own situation and many people have certain circumstances that allow them to buy here. The area you are looking has changed dramatically the last two decades and we have covered that ad infnitum in the past so dont try to throw out the old working class families used to be able to buy in Encinitas. The Encinitas of today is very different than the Encinitas of years long past.
Right or wrong, you are fighting a losing battle. The world is as it is and you either adopt an attitude that allows you suceed in it or you sit by and stew. It really is your choice and only yours.[/quote]
Actually, the patterns of price increases and declines happened pretty much the same across the country (and around the world, in many cases). The low end dropped first, because there was no buffer, and the Fed/govt restrained themselves because, “subprime was contained.” The declines began moving into the better areas (and Alt-A and prime mortgages), and then the intervention began in a way we’ve never seen before.
You are too focused on your micro-area, sdr. If you look around, you’ll see the same pattern everywhere. In cities all around the country, the mid/higher-end is levitating above normal, historical ratios when compared to the lower-end areas. The buoyancy of the mid-higher end is completely due to the govt/central bank intervention.
With all due respect, I’ve been here all my life, and have lived through multiple RE cycles in California. I’ll trust my knowledge, experience and frame of historical reference over your optimistic beliefs about real estate. It’s nothing personal, but what you’re saying has been said during every single bubble in California. I’ve seen the carnage in “bullet proof” areas before, and that was during a much better economy.
