Distribution of Wealth in SD County

[flyer]

I’ve enjoyed reading this very informative thread, and totally agree with poorgradstudent and sdrealtor regarding income vs. net worth, generally speaking, and specifically with regard to property holdings in San Diego County.

Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”

Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. Regardless of exactly where in the County each of us live,
we are truly blessed to be here–so just enjoy!!

[bearishgurl]

[quote=flyer]Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”[/quote]

(emphasis added)

Flyer, you are very fortunate, indeed. Since the time we first got “lost” and somehow ended up on Hill St. on our way to the Over-the-Line Tournament (LOL) in the summer of ’78, I fell in love with Fleetridge and upper OB. We had an opportunity to buy a “probate-fixer” (heirs in MO) on my most coveted st. in 1994 for only $273K, but my spouse at the time had several rec. vehs. that had to be stored and the alley RV pkg. there was NOT paved, was NOT lg. enough for all and was 20+ feet below the BY, so he vetoed it. (He could have stored one or all of them at MCRD [1.5 mi. away] for $17 for ea. space per mo. for the rest of his life!) Alas, that was my last opportunity as choice fixers are VERY rare now and difficult to obtain, even if you have cash and send direct mail or knock on doors.

Yes, the properties in this area with a BY sit-down view of the SD skyline are a very finite commodity (esp. w/o SDGE/phone easement) and there hasn’t been any vacant lots in the entire zip for nearly 50 years (exc. for tear-downs).

Who was to know back then that two run-down quonset huts and 3-4 “tallish” bldgs would turn into what it is today??

You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.

[quote=flyer]Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. . .[/quote]

Yes, I too, have traveled nearly every road in CA and roads in 20 other states and have visited Asia, HI and MX. I do love mtns. also but there is no place that compares with SD and esp. Pt. Loma!

I do feel fortunate!

[bearishgurl]

[quote=flyer]Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”[/quote]

(emphasis added)

Flyer, you are very fortunate, indeed. Since the time we first got “lost” and somehow ended up on Hill St. on our way to the Over-the-Line Tournament (LOL) in the summer of ’78, I fell in love with Fleetridge and upper OB. We had an opportunity to buy a “probate-fixer” (heirs in MO) on my most coveted st. in 1994 for only $273K, but my spouse at the time had several rec. vehs. that had to be stored and the alley RV pkg. there was NOT paved, was NOT lg. enough for all and was 20+ feet below the BY, so he vetoed it. (He could have stored one or all of them at MCRD [1.5 mi. away] for $17 for ea. space per mo. for the rest of his life!) Alas, that was my last opportunity as choice fixers are VERY rare now and difficult to obtain, even if you have cash and send direct mail or knock on doors.

Yes, the properties in this area with a BY sit-down view of the SD skyline are a very finite commodity (esp. w/o SDGE/phone easement) and there hasn’t been any vacant lots in the entire zip for nearly 50 years (exc. for tear-downs).

Who was to know back then that two run-down quonset huts and 3-4 “tallish” bldgs would turn into what it is today??

You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.

[quote=flyer]Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. . .[/quote]

Yes, I too, have traveled nearly every road in CA and roads in 20 other states and have visited Asia, HI and MX. I do love mtns. also but there is no place that compares with SD and esp. Pt. Loma!

I do feel fortunate!

[bearishgurl]

[quote=flyer]Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”[/quote]

(emphasis added)

Flyer, you are very fortunate, indeed. Since the time we first got “lost” and somehow ended up on Hill St. on our way to the Over-the-Line Tournament (LOL) in the summer of ’78, I fell in love with Fleetridge and upper OB. We had an opportunity to buy a “probate-fixer” (heirs in MO) on my most coveted st. in 1994 for only $273K, but my spouse at the time had several rec. vehs. that had to be stored and the alley RV pkg. there was NOT paved, was NOT lg. enough for all and was 20+ feet below the BY, so he vetoed it. (He could have stored one or all of them at MCRD [1.5 mi. away] for $17 for ea. space per mo. for the rest of his life!) Alas, that was my last opportunity as choice fixers are VERY rare now and difficult to obtain, even if you have cash and send direct mail or knock on doors.

Yes, the properties in this area with a BY sit-down view of the SD skyline are a very finite commodity (esp. w/o SDGE/phone easement) and there hasn’t been any vacant lots in the entire zip for nearly 50 years (exc. for tear-downs).

Who was to know back then that two run-down quonset huts and 3-4 “tallish” bldgs would turn into what it is today??

You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.

[quote=flyer]Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. . .[/quote]

Yes, I too, have traveled nearly every road in CA and roads in 20 other states and have visited Asia, HI and MX. I do love mtns. also but there is no place that compares with SD and esp. Pt. Loma!

I do feel fortunate!

[bearishgurl]

[quote=flyer]Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”[/quote]

(emphasis added)

Flyer, you are very fortunate, indeed. Since the time we first got “lost” and somehow ended up on Hill St. on our way to the Over-the-Line Tournament (LOL) in the summer of ’78, I fell in love with Fleetridge and upper OB. We had an opportunity to buy a “probate-fixer” (heirs in MO) on my most coveted st. in 1994 for only $273K, but my spouse at the time had several rec. vehs. that had to be stored and the alley RV pkg. there was NOT paved, was NOT lg. enough for all and was 20+ feet below the BY, so he vetoed it. (He could have stored one or all of them at MCRD [1.5 mi. away] for $17 for ea. space per mo. for the rest of his life!) Alas, that was my last opportunity as choice fixers are VERY rare now and difficult to obtain, even if you have cash and send direct mail or knock on doors.

Yes, the properties in this area with a BY sit-down view of the SD skyline are a very finite commodity (esp. w/o SDGE/phone easement) and there hasn’t been any vacant lots in the entire zip for nearly 50 years (exc. for tear-downs).

Who was to know back then that two run-down quonset huts and 3-4 “tallish” bldgs would turn into what it is today??

You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.

[quote=flyer]Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. . .[/quote]

Yes, I too, have traveled nearly every road in CA and roads in 20 other states and have visited Asia, HI and MX. I do love mtns. also but there is no place that compares with SD and esp. Pt. Loma!

I do feel fortunate!

[bearishgurl]

[quote=flyer]Many families, like ours, who have been in San Diego for many years have acquired true “gems” when it comes to property. We initially concentrated on properties in the Point Loma (Fleetridge, etc.) and Sunset Cliffs areas, and continued to purchase more all along the coast. Several family members are still in their original homes, others have passed their properties on to the next generation, and others are rentals.

Most of this had to do with being at the right place at the right time, and recognizing the potential of what used to simply be considered nothing more than a “Quiet Navy Town.”[/quote]

(emphasis added)

Flyer, you are very fortunate, indeed. Since the time we first got “lost” and somehow ended up on Hill St. on our way to the Over-the-Line Tournament (LOL) in the summer of ’78, I fell in love with Fleetridge and upper OB. We had an opportunity to buy a “probate-fixer” (heirs in MO) on my most coveted st. in 1994 for only $273K, but my spouse at the time had several rec. vehs. that had to be stored and the alley RV pkg. there was NOT paved, was NOT lg. enough for all and was 20+ feet below the BY, so he vetoed it. (He could have stored one or all of them at MCRD [1.5 mi. away] for $17 for ea. space per mo. for the rest of his life!) Alas, that was my last opportunity as choice fixers are VERY rare now and difficult to obtain, even if you have cash and send direct mail or knock on doors.

Yes, the properties in this area with a BY sit-down view of the SD skyline are a very finite commodity (esp. w/o SDGE/phone easement) and there hasn’t been any vacant lots in the entire zip for nearly 50 years (exc. for tear-downs).

Who was to know back then that two run-down quonset huts and 3-4 “tallish” bldgs would turn into what it is today??

You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.

[quote=flyer]Since growing up here, my family (wife and kids) have lived many other places in the world, but we always seem to come back to San Diego. . .[/quote]

Yes, I too, have traveled nearly every road in CA and roads in 20 other states and have visited Asia, HI and MX. I do love mtns. also but there is no place that compares with SD and esp. Pt. Loma!

I do feel fortunate!

[nocommonsense]

“but there is no place that compares with SD and esp. Pt. Loma!”

The sunshine was great the first few months after we moved here. But now I’m getting sick of the constant sun, which is boring and conveys no sense of the passing of time (maybe that’s why some like it :)). I miss the change of seasons badly.

[nocommonsense]

“but there is no place that compares with SD and esp. Pt. Loma!”

The sunshine was great the first few months after we moved here. But now I’m getting sick of the constant sun, which is boring and conveys no sense of the passing of time (maybe that’s why some like it :)). I miss the change of seasons badly.

[nocommonsense]

“but there is no place that compares with SD and esp. Pt. Loma!”

The sunshine was great the first few months after we moved here. But now I’m getting sick of the constant sun, which is boring and conveys no sense of the passing of time (maybe that’s why some like it :)). I miss the change of seasons badly.

[nocommonsense]

“but there is no place that compares with SD and esp. Pt. Loma!”

The sunshine was great the first few months after we moved here. But now I’m getting sick of the constant sun, which is boring and conveys no sense of the passing of time (maybe that’s why some like it :)). I miss the change of seasons badly.

[nocommonsense]

“but there is no place that compares with SD and esp. Pt. Loma!”

The sunshine was great the first few months after we moved here. But now I’m getting sick of the constant sun, which is boring and conveys no sense of the passing of time (maybe that’s why some like it :)). I miss the change of seasons badly.

[an]

[quote=bearishgurl]
You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.[/quote]
That’s a pretty broad generalization. I don’t think anyone here think tract homes are better than custom homes. However, most of us here can’t afford those $2M+ custom homes.

Are you not truly wealthy if you live in a lower MC area, but have a lot of $ in savings, investments, and a pension that’ll take care of you for life? Like one of my favorite wealthy people (Warren Buffett), he’s still living in his house that he bought in the 50s and its current value is suppose to be around $500k. Do you have to have lots of equity in valuable properties to be truly wealthy? AFAIK, income is what allow people to accumulate assets, so you can’t have assets w/out either having current or prior income. If you have $10M in the bank, even making 3-5% in interest will mean your yearly income is $300k-500k. That’s a lot of income. There are passive and active income, but they all are income.

To me, truly wealthy people are those who have their money working for them, not them working for their money. If one has no income, that means through daily expenses, their asset is dwindling, and eventually it’ll all be gone. So, I’d expect truly wealthy people to have income that’s higher than their expensive, so that their asset will forever be growing, but their money is working to make them income instead them working for the income.

[an]

[quote=bearishgurl]
You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.[/quote]
That’s a pretty broad generalization. I don’t think anyone here think tract homes are better than custom homes. However, most of us here can’t afford those $2M+ custom homes.

Are you not truly wealthy if you live in a lower MC area, but have a lot of $ in savings, investments, and a pension that’ll take care of you for life? Like one of my favorite wealthy people (Warren Buffett), he’s still living in his house that he bought in the 50s and its current value is suppose to be around $500k. Do you have to have lots of equity in valuable properties to be truly wealthy? AFAIK, income is what allow people to accumulate assets, so you can’t have assets w/out either having current or prior income. If you have $10M in the bank, even making 3-5% in interest will mean your yearly income is $300k-500k. That’s a lot of income. There are passive and active income, but they all are income.

To me, truly wealthy people are those who have their money working for them, not them working for their money. If one has no income, that means through daily expenses, their asset is dwindling, and eventually it’ll all be gone. So, I’d expect truly wealthy people to have income that’s higher than their expensive, so that their asset will forever be growing, but their money is working to make them income instead them working for the income.

[an]

[quote=bearishgurl]
You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.[/quote]
That’s a pretty broad generalization. I don’t think anyone here think tract homes are better than custom homes. However, most of us here can’t afford those $2M+ custom homes.

Are you not truly wealthy if you live in a lower MC area, but have a lot of $ in savings, investments, and a pension that’ll take care of you for life? Like one of my favorite wealthy people (Warren Buffett), he’s still living in his house that he bought in the 50s and its current value is suppose to be around $500k. Do you have to have lots of equity in valuable properties to be truly wealthy? AFAIK, income is what allow people to accumulate assets, so you can’t have assets w/out either having current or prior income. If you have $10M in the bank, even making 3-5% in interest will mean your yearly income is $300k-500k. That’s a lot of income. There are passive and active income, but they all are income.

To me, truly wealthy people are those who have their money working for them, not them working for their money. If one has no income, that means through daily expenses, their asset is dwindling, and eventually it’ll all be gone. So, I’d expect truly wealthy people to have income that’s higher than their expensive, so that their asset will forever be growing, but their money is working to make them income instead them working for the income.

[an]

[quote=bearishgurl]
You just explained I was trying to on this thread to poster(s) who seemed fixated on tract housing. Owners with lots of equity in valuable properties in SD are the truly wealthy. In my mind, wealth has almost NOTHING to do with income and everything to do with assets.[/quote]
That’s a pretty broad generalization. I don’t think anyone here think tract homes are better than custom homes. However, most of us here can’t afford those $2M+ custom homes.

Are you not truly wealthy if you live in a lower MC area, but have a lot of $ in savings, investments, and a pension that’ll take care of you for life? Like one of my favorite wealthy people (Warren Buffett), he’s still living in his house that he bought in the 50s and its current value is suppose to be around $500k. Do you have to have lots of equity in valuable properties to be truly wealthy? AFAIK, income is what allow people to accumulate assets, so you can’t have assets w/out either having current or prior income. If you have $10M in the bank, even making 3-5% in interest will mean your yearly income is $300k-500k. That’s a lot of income. There are passive and active income, but they all are income.

To me, truly wealthy people are those who have their money working for them, not them working for their money. If one has no income, that means through daily expenses, their asset is dwindling, and eventually it’ll all be gone. So, I’d expect truly wealthy people to have income that’s higher than their expensive, so that their asset will forever be growing, but their money is working to make them income instead them working for the income.

[Author]

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