Tear-down type “remodeling” on a lot is also very expensive, and the people who can afford it are going to choose La Jolla (Mitt Romney!), Bird Rock, etc. and other coastal locations.
I guess my conclusion is that areas like Clairemont, Linda Vista, Allied Gardens, San Carlos, etc will slowly deteriorate with time. The next wave would be 70s/80s constructions like Tierrasanta, Mira Mesa, RPQ, etc.
New owners may do some remodeling (likely aesthetically unpleasing additions) and the adult children who inherit such properties from their parents will likely just keep letting their properties deteriorate. (There are houses in my old ‘hood which are 50-60 yrs old and are just crying for new roofs or paint, but it doesn’t look like there is any will or money to ever do it).
I guess the answer will come depending on whether potential new owners with a bit of money to remodel will be willing to move into such neighborhoods with these types of eyesores in their midst (not to mention the marginal schools). I imagine there is some sort of tipping point. Really interesting to think about it all.
