You are right. It is a new permanently high plateau.
I guess the only ones who don’t get it are the renters. Those are some pretty compelling arguments. I feel pretty dumb for undervaluing San Diego. I want to pay double! I’m going to the office tomorrow to renegotiate my rental contract upwards…
Once I start paying the new correctly valued rent, I can only imagine how much better my S.D. experience will be. It’s going to be awesome!
I was renting a home in San Carlos last year for $1,975. It recently listed for $600K so I believe we’ve just hit bottom. I want to get it before an astute investor jumps on the 300X rent multiple. Can anyone hook me up with a 110% LTV I/O?
P.S. Just imagine if people were to begin valuing speculative appreciation over plain ownership. The lid would absolutely fly off the market!!!!
