I work in the Film/TV industry, and choose to live in San Diego, and it’s true that within the ranks of the “uber-rich” (as referenced in the noted article) monetary concerns with regard to real estate purchases seem to be minimal, if not absent.
However, I’m not really certain how this applies to most people who are trying to decide whether or not they should invest in real estate–given the current financial environment.
Even those of us who have owned homes in San Diego (La Jolla) for years, and have excellent incomes would be foolish not observe the warning signs, and make our plans accordingly.
