The truth about PB is it is a dump and until the city decides to start pulling liquor licenses from bars, that little quaint place that used to have potential in the mid 90’s will only go down in flames with the rest of the market. My guess is PB will be one of the worst hit costal markets from Pt. Loma to Carlsbad. The crime in PB is terrible, the traffic is a mess and if you don’t witness something completely out of the ordinary on a drive down Garnet consider yourself blessed.
Those qualifying for homes in PB are a younger crowd many who in the past few years were able to afford a $700K-$1mil with little down on 3-5 year arms. As these loans reset most will need to foreclose. I do agree PB is a great little costal community, especially when the city actually stepped up and took care of it, but as this market exploded so did the little town of PB. The partiers who love that town will eventually leave because they won’t be able to afford it. Survival of the fittest for renters.
