[quote=sdrealtor]The examples are all around us everywhere you look. Here’s a data point for you.
SD County population in 1995 2.6M.
SD County population in 2010 3.1M.
Do you beleive the additional 500,000 people are all poor?
Something from the census
Median Household income in 1989 was $35,000
Median Household income in 1999 was $47,000
Median Household income in 2008 was $62,000
You would have to be blind or at least have your eyes closed not to see how much this area has changed over the last 15 years.
Yes it got hammered in the 1990’s and alot of people you ask will say it has gotten hammered again. On a nominal basis the declines are far greater this time around. Granted homes were lower priced then but homes in nice middle class neighborhoods did not fall $200 to 300K in the 90’s like they have now.[/quote]
So, wages went up about 34% between 1989 and 1999. Wages went up 32% between 1999 and 2008.
The difference? House prices were essentially flat between 1989 and 1999 (1989 was the peak of the last *regular* housing cycle, and 2001 was the peak of the second *regular* housing cycle. IMHO…but what happened after 2001 was a credit bubble.
Decades ago, all the wealthiest people in the world were very much aware of San Diego. Bing Crosby made sure that the “Hollywood set” (who led fashion, lifestyle, and vacation trends) came down here to advertise his racetrack and bring glamour to the area. La Jolla has long been a playground for the rich and famous, as was Coronado (and La Costa, to a lesser extent). One can hardly argue that San Diego was a secret of some type.
Also, when you consider the number of people who’ve been churned through here via the military (like my dad who trained at NTC in the 1940s, and decided to never leave California after that), tons of people have had plenty of exposure to San Diego throughout history.
