[quote=SK in CV][quote=bearishgurl][quote=SK in CV][quote=bearishgurl]Oh, and a “slow down” in the “larger economy” has nothing to do with property values the best areas of San Diego County or ANY CA coastal counties, for that matter, as most of those owners are “retired” and a good portion of those properties have long been “paid off.”
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Where are you talking about that “most of those owners are “retired” and a good portion of those properties have long been “paid off.””?[/quote]
SK, I pride myself on my good memory. We’ve had this discussion before about your old stomping ground of Del Cerro and surrounds. I claimed a lot of the properties around there were paid off and you stated that you recently discovered on a visit that most of the properties on your old street have changed hands in recent years (this still doesn’t answer the question of whether these “new” owners have a mortgage … or not).
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Ok, so you didn’t really meant that “Oh, and a “slow down” in the “larger economy” has nothing to do with property values the best areas of San Diego County or ANY CA coastal counties, for that matter, as most of those owners are “retired” and a good portion of those properties have long been “paid off.””. [/quote]
Yes I did mean that.
[quote=SK in CV]What you meant is, there are a few blocks that you’ve looked at that the owners are retired and have their homes paid off, and think that should be the same across the county even though you have no idea what the situation is in the rest of the county. Understood.[/quote]
No, NOT understood. I’ve done this study on several parcel maps in 92103 and 92106 as well, but it was in the mid-90’s. I don’t see a lot of concern among these longtime owners about what goes on in the “larger economy.” Are you referring to concern about companies moving in or out of SD, military contracts being won or lost, interest rates on passive investments, etc? I don’t see people overly worried about these things. I’m certainly not. Of course, savers would like to have higher returns but the folks in my sphere seem to know how to make do with the income they have. Just because a few Piggs (okay, a lot) buy into a “gloom and doom” scenario, that doesn’t mean the wider community does. I think I’m pretty representative of Suzy Q. Sixpack homeowner who is not a W-2 worker and manages to get along just fine. There are millions of us out there, btw.
I’ve been in a LOT of older areas in this county, SK. Not only recently but down through the years. I used to do a lot of heavy precinct walking. I KNOW the demographic who lives in these areas. Most of them don’t change that much. Most of these people don’t move. In some of the blocks, maybe 1-3 houses change hands per decade!
