[quote=spdrun]Insurance is about $1200/yr(?). Mortgage (principal + interest) say 6%. Taxes 1.125%. Comes to about $1100/mo. Unless PMI premiums are sky-high, I’ guess he’d be paying less than the $1500-1800 (SWAG) required to rent such a place. Defs not 50% of rent, but still an ok deal.[/quote]
Since an 1100 sf 2/1 up to a 1500 sf 3/1.5 SFR in Chula Vista (10 mi from dtn SD and ~1 mi from SD Bay) rents for $1600 to $1800 … and in other parts of SD County, SFR rents are even less than that, what’s the “draw” for a SD County worker to rent (or buy) in the “remote IE” (85+ miles away)?
Were there ever really enough jobs in the “remote IE” (or in “nearby” East LA, East OC) to justify the building of all the tract developments out there which rose up just before and during the millenium boom??
I didn’t think so then and I don’t think so now. It’s just excess overbuilding now (predictably) turning into ghost towns. Given the choice, few workers really want to commute that far on a daily basis. The only entity that benefited from this travesty on CA’s environment is Big Development. They were aided and abetted all along thru the “development process” by our (greedy) elected officials, NONE of whom likely live within even 20 miles of the “shantytowns” and “gridlock” caused by the massive overbuilding they voted in 🙁