Goodbye to San Diego

[sdrealtor]

What does 113 degrees even feel like? Does it hurt?

[sdrealtor]

Nice stats. Meanwhile Arizona, Texas, Florida, Idaho and yes Utah too home price’s are sliding. Quickly

 

median home price in St. George dropped more than 10% from April to May. Yikes!!!

 

[sdrealtor]

By the way, nice job cherry picking stats for an arbitrary five year window. Yes, our real estate soared in prices those five years. Many of the losers left. Yes, work from home became a thing after the pandemic and some folks move back home to cheaper housing. Too bad they’re all being called back to work and are going to have to come back or find a new job. The future is so bright here I wear Sunglasses at night

[EconProf]

sdr:  10% drop in prices here in one month?

Sorry, not buying it.  Then again, maybe you are cherry-picking the time period  🙂

[sdrealtor]

I didn’t say 10%. I said MORE than 10%. Using an arbitrary 5 year period is cherry picking. Using the most current data? Not so much. Here you go. A link to actual data, something you rarely if ever seem to provide. It dropped from 556k to 500k in one month just over 10%

https://www.redfin.com/city/16751/UT/St-George/housing-market

The graph clearly shows a market that peaked two years ago and is trending down. SD is still trending up

 

[sdrealtor]

San Diego data

https://www.redfin.com/city/16904/CA/San-Diego/housing-market

[Hobie]

5 year exodus from California per U-Haul.  I recently spoke with the Oceanside Uhaul and they said to take a truck to the east coast costs about $18k plus fuel, hotels, etc.

https://x.com/libsoftiktok/status/1875745248766521400

 

[EconProf]

Hobbie,

Here in Utah I paid property tax of approximately $7,000 on my house worth $822,500 (Zillow).  Darn, I sure wish we had California’s Prop. 13 to keep our property taxes low.

Oh wait….

Cheers, and Happy New Year.  🙂

[Coronita]

Yawn.

I don’t know EconProf… I think just about every person who is an older property owner(s) in CA that didn’t sell or didn’t miss out on the boat aren’t really complaining about how things worked out in CA…..

By far, relative to many of my peers here, I’m as the youngsters call in the “Poors”…. Those that had racked and stacked real estate here in CA and kept them are killing it.

I did ok, but not stellar great, but I really can’t complain, as much as a lot of things piss me off about CA. I never would have imagined that a POS cookie cutter starter home in 92130 that cost me $800k would be appraised for $2.2m today… Nor did I expect the  POS short sales/REO condos in MM that were around $125k-$150k each during the Great Depression would be selling near $450k- $1/2 million today, nor would they be pulling in around $2500-$2900/month each in rental income.

Nor did I expect doing a cash out refinance on some of the properties at 3% for 30 years and leaving that in index funds and even less than stellar stock picks would have worked out as well as it did versus leaving it as dead equity with it doing nothing.

I never thought I would be in a position to be have been financially comfortable to retire early 17 years earlier than most of my peers outside of CA, and be able to send my kid off to college starting this year at the same time.

And there’s a lot of people in CA that did a heck of a lot better too. All those people that racked and stacked sub- $500k properties in places like “lizard-infested” Mira Mesa as BG use to call here, are smiling all the way to the bank these days with the $1.2-4m appraisals coming in…. In Mira Mesa….Admittedly, I sure as hell missed the boat on those.

Which brings me to my next point… My old neighbor, a GM for Motorola once gave me the following advice… the more can keep politics out of daily life decisions, the better off financially one will be…He was so spot on and I’m very thankful for his wise advice. God forbid if I listened to a lot of the CA doomsayers and sold my properties years ago, how disappointed I would have been missing all that gain.

Life is way too short to be bitter and stuck in this constant left versus right versus left slapfest from a bunch of old farts in washington that have their thumbs up their asses. It’s a soap opera for old and ugly people. people figure out how to make money irrespective of which political party is pissing in the winds. And I refuse to acknowledge I’m an old fart….

If moving because you want to be next to your kids is important enough for you, then good for you, it was a good decision for you. It doesn’t matter how much money you might have left on the table, because you can’t put a price on everything, and when you get old, there are a lot more things that are way more important than just simple black and white money. Never thought I would say that, but seen enough people dropping like flies recently in my age group all over the country, I’m like holy shit, many people didn’t even get to enjoy most of their life they worked to build before they croaked…. you know, as much as I wanted to have my own tech company, it ain’t gonna happen and now it’s not at the top priority of my list. But even then,  as much as I find some of the things in CA annoying, I’m thankful that CA enabled me to have a way better life than I expected and can’t really complain.

And it’s so playtime…I aint going to be a grumpy old fart going to Bingo Night at the senior center wearing Depends with a soar back and with my AARP card in hand without a fight.

As some of the youngsters would say… YOLO !

 

[Coronita]

Minor correction. I meant Great Recession , not Great Depression.

[limkotir]

“…Life is way too short to be bitter and stuck…”

Yep.  Life is not about min/max or optimize the hell out of everything.

Sometimes, understand “enough” and get off of the hedonic treadmill and focus on the finite and time sensitive (i.e., once a time period passes you, it’s gone forever – college dorm years, when your kids are age toddlers), and resources that is truly important in the grand scheme of things: time, health and focus mental and physical energy on things / persons matter to you, at each stage and seasons of your life.

[EconProf]

To:  All

Believe me yet?

EconProf

[sdrealtor]

Absolutely. Its a disaster in Utah. Home prices have risen to the point where affordability suck and  incomes are awful. Its one of the least affordable places in the country and you have to live in Utah

Enjoy this lovely sampling of local Utah news

 

https://www.yahoo.com/news/unaffordable-housing-utah-no-1-014401780.html?fr=sycsrp_catchall

https://www.abc4.com/news/local-news/utah-housing-prices-stable-but-unaffordable/

https://finance.yahoo.com/news/expensive-utah-housing-market-compared-030001652.html?fr=sycsrp_catchall

 

And some data

St George

https://www.redfin.com/city/16751/UT/St-George/housing-market

Housing prices have gone nowhere for 3 years

July 2022 Median $542,450

July 2025 Median $550,000

Current Median days on market 49

 

San Diego

https://www.redfin.com/city/16904/CA/San-Diego/housing-market

July 2022 Median $872,500

July 2025 Median $935,000

Current median days on market 32

 

People are leaving now.

You sure showed us!!! ROTFLMAO

 

 

 

[sdrealtor]

But wait there’s more! how is the rental market? How many houses with 3+ bedrooms are available/ Lets compare

 

St George Population 106,000

Carlsbad Population 114,000

St George has 52 available and only one is above $4k. Many are vacant new builds sitting empty

Carlsbad has 8 available of which 3 are large estates for $18K or more so basically there are 5!

One place seems to be a speculative mess while the other has excessive demand

[evolusdv2]

Crickets around here for months…leave it to EconProf to come back for more! Ha!

[Author]

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