The number of second homes / vacation homes here is a tiny tiny bit of the housing. Now if you are talking west of the 101 or on the beach sure… This accounts for 1% of the houses. What about the other 99%?
I don’t know of one house in any of the neighborhoods where I have friends in CV where there are any ‘second homes’. Great post Bugs – you hit the nail on the head.
I’m not being emotional about this. You aren’t being realistic. Sure the land from the beach to 3 miles inland is pretty full… But there is still 5 miles of the same weather up and down the coast.
More importantly – where is the updating happening? La Jolla? Del Mar? If there was true pricing and scarcity pressure (which of course there is not – as Bugs said look at the developers running away from their deposits) – then areas outside of the wealthy ones would be getting spillover and would have tear-downs – upgrades – etc.
Not happening.
Because we haven’t run out of room. Bugs (I think it was Bugs) said that there will be water / job shortages / etc. before we have used up the space.
One other thing….. We pollute our residential spaces like no other place. In England there is a town, then there is a greenbelt around it, they don’t jam a dozen houses into an acre or two from the city to the next city!!! They actually keep country, city, and suburbia separate. Our noble developers will probably build houses above other houses pretty soon – won’t be pretty!
