Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.
