Goodbye to San Diego

[Coronita]

Ok. If you say so…

[EconProf]

A bit of history about San Diego from this geeser. When we first moved here so I could teach at SDSU, 45 years ago, CA was the land of opportunity–the Golden State. Pete Wilson was the San Diego mayor, later CA senator. CA was Reagan country and the government was efficient, taxes were reasonable, and politics were competitive. A 3 Br, 2 Ba house in the suburb of El Cajon averaged $45,000 in price, the same as the national average. Now the left owns the state, government unions control K-12, the universities, and virtually all city, county, and state offices. Our high taxes, draconian regulations, skyrocketing utility bills are what make CA houses cost three times what the same house will cost in Utah, AZ, Texas, etc. Which explains why CA population is actually shrinking of late in absolute terms. Yes, we have our great weather, the ocean, and hip culture. But the trends are ominous, and the future is dire compared to that of our neighboring states.

[sdrealtor]

Numbers seem off. Village Park homes in Encinitas were in the 20’s when built in the 70s. Those are now in the low 1m’s. Past client bought oceanfront house in Carlsbad in mid 70s for around 80k and it’s worth 6-8m today. If your numbers aren’t off you made very poor investments

[EconProf]

Actually I made quite a lot on houses, apartments, and commercial properties, to the point where landlording income dwarfed teaching income.
I mentioned El Cajon because that was a typical blue-collar suburb then. As you must know, coastal properties in San Diego have appreciated much faster over the decades than inland.

[flyer]

[quote=EconProf]A bit of history about San Diego from this geeser. When we first moved here so I could teach at SDSU, 45 years ago, CA was the land of opportunity–the Golden State. Pete Wilson was the San Diego mayor, later CA senator. CA was Reagan country and the government was efficient, taxes were reasonable, and politics were competitive. A 3 Br, 2 Ba house in the suburb of El Cajon averaged $45,000 in price, the same as the national average. Now the left owns the state, government unions control K-12, the universities, and virtually all city, county, and state offices. Our high taxes, draconian regulations, skyrocketing utility bills are what make CA houses cost three times what the same house will cost in Utah, AZ, Texas, etc. Which explains why CA population is actually shrinking of late in absolute terms. Yes, we have our great weather, the ocean, and hip culture. But the trends are ominous, and the future is dire compared to that of our neighboring states.[/quote]

We’ve seen our investment and personal properties, especially coastal, skyrocket since we started investing many years ago, but I think you speak for a great number of people who are finding the current state of CA challenging in many ways, so moving elsewhere makes sense.

I’ve spoken to many people who have no idea of how their kids will ever be able to buy a home in CA, let alone save for retirement. Of course, there will always be those who continue to live beyond their means in order to stay in CA, and that will not bode well long-term. The bottom line is everyone has to do what’s best for them, and enjoy the short time we all have on earth.

[Coronita]

[quote=flyer]
We’ve seen our investment and personal properties, especially coastal, skyrocket since we started investing many years ago, but I think you speak for a great number of people who are finding the current state of CA challenging in many ways, so moving elsewhere makes sense.
[/quote]

Nobody gives a shit how much money you inherited. That’s what’s great about this country. Everyone the same. Everyone ends up in the ground the same way…

Truly wealthy people don’t waste their time mentioning how much money they have every opening sentence on a blog..because they have nothing to prove and don’t have insecurity issues from being excluded from an elite member of the wealthy club. it’s usually all the B and C players that do.

[sdrealtor]

[quote=EconProf]Actually I made quite a lot on houses, apartments, and commercial properties, to the point where landlording income dwarfed teaching income.
I mentioned El Cajon because that was a typical blue-collar suburb then. As you must know, coastal properties in San Diego have appreciated much faster over the decades than inland.[/quote]

Great work! Anyone that invested 45 years ago made a killing. Its just the numbers you posted dont look great relative to most Ive seen. Either way simply buying and holding that long makes you look very astute

[gzz]

The top appreciation came for areas that gentrified, not necessarily on the coast.

That’s a mix of coastal areas (OB, South PB, Encinitas) and inland areas (Hillcrest, East Village, and North Park).

[svelte]

[quote=sdrealtor]
People cashing out. I have two neighbors about to. Nothing to buy in red hot CA so they limp out of state to find something else[/quote]

Sales are strong throughout California that is true.

But as long as you get away from the major cities, prices are reasonable. Monday, my son put in an offer that was accepted for a 1500+ SF home in the Sierra Nevada foothills. He is getting it for $400K. House was on market 7 days and he was one of four offers.

And here is what I don’t understand…I keep hearing people say that CA is losing population, yet housing prices are still heading up. Somehow that does not equate.

[sdrealtor]

[quote=gzz]The top appreciation came for areas that gentrified, not necessarily on the coast.

That’s a mix of coastal areas (OB, South PB, Encinitas) and inland areas (Hillcrest, East Village, and North Park).[/quote]

Carmel Valley, Carlsbad and Rancho Bernardo disagree

[The-Shoveler]

IMO People are trying to get ahead of the proposed $15,000 tax credit.

IMO if you think the market is on fire now just wait LOL.

(at least for first time starter homes.)

But would agree as well just need to get away from coastal big cities, then prices are not much different than moving out of state in the middle of nowhere.

[flyer]

[quote=sdrealtor][quote=EconProf]Actually I made quite a lot on houses, apartments, and commercial properties, to the point where landlording income dwarfed teaching income.
I mentioned El Cajon because that was a typical blue-collar suburb then. As you must know, coastal properties in San Diego have appreciated much faster over the decades than inland.[/quote]

Great work! Anyone that invested 45 years ago made a killing. Its just the numbers you posted dont look great relative to most Ive seen. Either way simply buying and holding that long makes you look very astute[/quote]

Great on all of the real estate wins–EP–enjoy your new life! Looks like a beautiful spot, and with close family ties–it should be fantastic!

[scaredyclassic]

What does our actual day consist of, v. What do we fantasize our actual days might consist of.

For an actual day your place looks awesome

[gzz]

>Carmel Valley, Carlsbad and Rancho Bernardo disagree

I rather doubt that. CV was fairly recent and expensive when developed. It did great, but didn’t get that extra gentrification boost. Those areas likely outperformed inner areas during the past year’s Run For the Burbs, but not over 20-30 years.

[sdrealtor]

Sorry, Ive run the numbers before

[Author]

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