Home price:
First, I want to give you my honest opinions. My research (and based on historical data) shows me that housing price has a high chance to decrease at least 30% within 5-7 years timeframe. Some boldly predict 50%. I have reserve about that prediction. I am not saying it’s not possible, just not likely. Given the wage factor, general affordibility of San Diegean, I just don’t see it dropping so much unless we have some kind of nationwide disaster, massive job loss or $200 oil per barrel.
Affordibility
Second, with $64,500 combined annual income is really tough to buy any decent home at this point. My wife and I have a combined income at low 6-figure and we’re still having a hard time buying a decent size newer house in Rancho Bernardo. In San Diego, we are competitive with many other high paid employees from telecom companies, biotech companies, financial companies. I recently talked to my friend from Microsoft in Seattle. They live about 20 minutes drive from Microsoft site and they house is in around $450000. Even they knew about the crazy housing price in San Diego and told me to relocate. =)
My suggestion to your situation: Try to get a better paid job in anyway you can. On average salary get you on average house. The nature of economics do not change.
