When I moved to Encinitas back 1997 after returning back to SD for my 3rd and what has become my final stint here I was shocked by the prices. A decent townhouse was 50 to 100% more than where I came from on the East Coast where everything demographically was equal or superior to here. I was 10 minutes from Philadelphia, in area with nationally recognized schools (at least as good as the best districts here), within an hour from the ocean, 2 hours to NYC. In a nutshell it was not Minneaspolis by any stretch.
It made no sense to me but I listened to a wise friend and bought something. I bought at essentially the bottom of the last cycle and it still seemed outrageously expensive. Anyone expecting things to ever be on par or even make remote sense with markets like Minneapolis needs to thaw out their mind for a few days;)
