[quote=sdrealtor]I’ll add one more log to the things are different around here now fire. 20 years ago and probably even 10 years, my friend moving here from NYC could have never lived here. He’s one of the millions of self-employed folks whose entire business focus, business model and ability to work from home have been enabled by technology. He was previously tied to the NY area but now he can live anywhere with high speed Internet, smartphones, video conferencing, acceptibility of teleconferencing, outsourcing etc. I run into many folks that could live anywhere and have chosen here. That wasnt part of the market here 20 yrs ago like it is today.[/quote]
I know a lot of people who moved here from somewhere else 10 or more years ago. It’s not a new trend.
We had high tech in the early 90s here too, and we also had a thriving aerospace/defense industry as well. Lots of high paid jobs were here before. Biotech has been here for a long time, and from what friends in the industry tell me, it’s been declining in San Diego since the early 2000s.
Sorry, sdr…I’ve lived in Southern California all my life, and this meme of “it’s different here” is actually quite old. They trot that out at the peak of every cycle in an attempt to justify irrational prices, and we see the same declines after every one of these periods of euphoria. If you study the history of real estate in California, you’ll see that real estate here is one of the most volatile markets in the U.S. One thing you can be assured of: we will always have RE bubbles in California, and at the peak of every single one, you’ll hear the cries of “it’s different here!” and “this time, it’s different.”
