Affordibility Returns

[Bugs]

The one thing to remember about the really primo areas of Del Mar and La Jolla is that, relatively speaking, they didn’t enjoy the massive runup in pricing that the lower price ranges did.

The areas on the bottom that are getting hurt the most also increased by the most, percentage wise.

Some of those bottom end neighborhood increased by nearly 400%. In contrast, La Jolla and Del Mar areas increased a lot, but not 400% worth. More like 250% or so.

Unless these areas break the pattern that has prevailed so far in past cycles, they’ll also correct quite a bit, although the percentage corrections won’t be as drastic as the lower priced markets.

If a 1,000 SqFt house in Barrio Logan bottoms out at $120k, the same home in La Jolla won’t be selling for $900k. It’ll end up being a lot closer to $500k because the relationship between Barrio Logan and La Jolla has remained relatively consistent over the years.

[ibjames]

I agree, you drive through PB and see for sale signs all over the place..

then you see a run down victorian home with boarded windows and doors, the sellers are saying it could be completely redone or treated as a teardown.. they want like 850 if I recall correctly.. or 800k.. not below it though..

which seems crazy to me, you would think PB would be one of the areas that drops because of all the for sale signs there

[ibjames]

I agree, you drive through PB and see for sale signs all over the place..

then you see a run down victorian home with boarded windows and doors, the sellers are saying it could be completely redone or treated as a teardown.. they want like 850 if I recall correctly.. or 800k.. not below it though..

which seems crazy to me, you would think PB would be one of the areas that drops because of all the for sale signs there

[ibjames]

I agree, you drive through PB and see for sale signs all over the place..

then you see a run down victorian home with boarded windows and doors, the sellers are saying it could be completely redone or treated as a teardown.. they want like 850 if I recall correctly.. or 800k.. not below it though..

which seems crazy to me, you would think PB would be one of the areas that drops because of all the for sale signs there

[ibjames]

I agree, you drive through PB and see for sale signs all over the place..

then you see a run down victorian home with boarded windows and doors, the sellers are saying it could be completely redone or treated as a teardown.. they want like 850 if I recall correctly.. or 800k.. not below it though..

which seems crazy to me, you would think PB would be one of the areas that drops because of all the for sale signs there

[ibjames]

I agree, you drive through PB and see for sale signs all over the place..

then you see a run down victorian home with boarded windows and doors, the sellers are saying it could be completely redone or treated as a teardown.. they want like 850 if I recall correctly.. or 800k.. not below it though..

which seems crazy to me, you would think PB would be one of the areas that drops because of all the for sale signs there

[barnaby33]

Drat, bugs beat me to the point. Last time around DM actually got hammered harder than lots of other areas, its not immune just more delayed.
Josh

[barnaby33]

Drat, bugs beat me to the point. Last time around DM actually got hammered harder than lots of other areas, its not immune just more delayed.
Josh

[barnaby33]

Drat, bugs beat me to the point. Last time around DM actually got hammered harder than lots of other areas, its not immune just more delayed.
Josh

[barnaby33]

Drat, bugs beat me to the point. Last time around DM actually got hammered harder than lots of other areas, its not immune just more delayed.
Josh

[barnaby33]

Drat, bugs beat me to the point. Last time around DM actually got hammered harder than lots of other areas, its not immune just more delayed.
Josh

[peterb]

Give it time. The storm has barely started. Althought it’s tempting to compare the last down cycle to this one…this time around it’s much more of a perfect storm brewing. Check out what Bruce Norris and Ward Hannigan are saying. They’ve been through a couple of these and both agree that this one is “special”.

[peterb]

Give it time. The storm has barely started. Althought it’s tempting to compare the last down cycle to this one…this time around it’s much more of a perfect storm brewing. Check out what Bruce Norris and Ward Hannigan are saying. They’ve been through a couple of these and both agree that this one is “special”.

[peterb]

Give it time. The storm has barely started. Althought it’s tempting to compare the last down cycle to this one…this time around it’s much more of a perfect storm brewing. Check out what Bruce Norris and Ward Hannigan are saying. They’ve been through a couple of these and both agree that this one is “special”.

[peterb]

Give it time. The storm has barely started. Althought it’s tempting to compare the last down cycle to this one…this time around it’s much more of a perfect storm brewing. Check out what Bruce Norris and Ward Hannigan are saying. They’ve been through a couple of these and both agree that this one is “special”.

[Author]

Posts