How close is the San Diego housing market to the historical average?

[davelj]

I’ve stated this opinion previously a couple of times. I think that SD residential RE will generically trade at a higher premium relative to the rest of the US today (and going forward) than it has in the past. The reason is that until the mid- to late-90s San Diego was basically viewed as a big beach town. A very pleasant place to live, to be sure. Today, however – and setting housing prices aside – San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. Don’t get me wrong, I think that the mid- and high-ends in SD are a bit overvalued, but there are mitigating factors that might buffer the downside. And while the “Everybody Wants to Live Here” meme is clearly silly… there is probably a “Helluvalotta People Want to Live Here if Housing Prices are Not Insane” meme that does apply. And while still pricey in lots of places, housing prices generically are no longer looney in SD… at the moment, that is.

[Nor-LA-SD-guy]

My manners need polish,

Yes thanks Ed,

It is interesting info but I think also one factor not taken is that the higher incomes have got much higher, while the mid incomes have not quite kept up and the lower incomes have lost a lot of ground.

[Nor-LA-SD-guy]

My manners need polish,

Yes thanks Ed,

It is interesting info but I think also one factor not taken is that the higher incomes have got much higher, while the mid incomes have not quite kept up and the lower incomes have lost a lot of ground.

[Nor-LA-SD-guy]

My manners need polish,

Yes thanks Ed,

It is interesting info but I think also one factor not taken is that the higher incomes have got much higher, while the mid incomes have not quite kept up and the lower incomes have lost a lot of ground.

[Nor-LA-SD-guy]

My manners need polish,

Yes thanks Ed,

It is interesting info but I think also one factor not taken is that the higher incomes have got much higher, while the mid incomes have not quite kept up and the lower incomes have lost a lot of ground.

[Nor-LA-SD-guy]

My manners need polish,

Yes thanks Ed,

It is interesting info but I think also one factor not taken is that the higher incomes have got much higher, while the mid incomes have not quite kept up and the lower incomes have lost a lot of ground.

[briansd1]

[quote=davelj] San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. [/quote]

That believe that you’re right. I think that there’s more urbanization in America by people who have the means to choose where to live (well-to-do retirees are an example).

But there’s also a trend by companies to relocate to low-cost areas. Places such as Detroit are the “emerging markets” for America.

I’m not too confident about the jobs prospects for San Diego.

For the international set, there are plenty of glamour cities around the world, and San Diego doesn’t make the short list.

I would argue that Miami is more glamourous than San Diego. Rich folks from Latin America come to Miami to shelter their assets more than they come to San Diego.

Florida also attracts plenty of Europeans.

But Miami prices are lower than San Diego prices.

[briansd1]

[quote=davelj] San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. [/quote]

That believe that you’re right. I think that there’s more urbanization in America by people who have the means to choose where to live (well-to-do retirees are an example).

But there’s also a trend by companies to relocate to low-cost areas. Places such as Detroit are the “emerging markets” for America.

I’m not too confident about the jobs prospects for San Diego.

For the international set, there are plenty of glamour cities around the world, and San Diego doesn’t make the short list.

I would argue that Miami is more glamourous than San Diego. Rich folks from Latin America come to Miami to shelter their assets more than they come to San Diego.

Florida also attracts plenty of Europeans.

But Miami prices are lower than San Diego prices.

[briansd1]

[quote=davelj] San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. [/quote]

That believe that you’re right. I think that there’s more urbanization in America by people who have the means to choose where to live (well-to-do retirees are an example).

But there’s also a trend by companies to relocate to low-cost areas. Places such as Detroit are the “emerging markets” for America.

I’m not too confident about the jobs prospects for San Diego.

For the international set, there are plenty of glamour cities around the world, and San Diego doesn’t make the short list.

I would argue that Miami is more glamourous than San Diego. Rich folks from Latin America come to Miami to shelter their assets more than they come to San Diego.

Florida also attracts plenty of Europeans.

But Miami prices are lower than San Diego prices.

[briansd1]

[quote=davelj] San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. [/quote]

That believe that you’re right. I think that there’s more urbanization in America by people who have the means to choose where to live (well-to-do retirees are an example).

But there’s also a trend by companies to relocate to low-cost areas. Places such as Detroit are the “emerging markets” for America.

I’m not too confident about the jobs prospects for San Diego.

For the international set, there are plenty of glamour cities around the world, and San Diego doesn’t make the short list.

I would argue that Miami is more glamourous than San Diego. Rich folks from Latin America come to Miami to shelter their assets more than they come to San Diego.

Florida also attracts plenty of Europeans.

But Miami prices are lower than San Diego prices.

[briansd1]

[quote=davelj] San Diego is viewed as one of the more desirable places to live in the US (A “glamour city” in Robert Shiller’s parlance). [I’m not going to debate whether this view is “right” or “wrong” – I’m just stating that it’s a fact.] Given this change, it makes sense that housing in SD should trade at a higher premium relative to US housing prices on the whole than it has in the past. [/quote]

That believe that you’re right. I think that there’s more urbanization in America by people who have the means to choose where to live (well-to-do retirees are an example).

But there’s also a trend by companies to relocate to low-cost areas. Places such as Detroit are the “emerging markets” for America.

I’m not too confident about the jobs prospects for San Diego.

For the international set, there are plenty of glamour cities around the world, and San Diego doesn’t make the short list.

I would argue that Miami is more glamourous than San Diego. Rich folks from Latin America come to Miami to shelter their assets more than they come to San Diego.

Florida also attracts plenty of Europeans.

But Miami prices are lower than San Diego prices.

[sdrealtor]

I dont beleive he ever said San Diego was more glamourous than Miami. He said it has become more glamourous than it was 10 plus years ago. It has climbed up the list substantially however long that list is. This is hard to dispute.

[sdrealtor]

I dont beleive he ever said San Diego was more glamourous than Miami. He said it has become more glamourous than it was 10 plus years ago. It has climbed up the list substantially however long that list is. This is hard to dispute.

[sdrealtor]

I dont beleive he ever said San Diego was more glamourous than Miami. He said it has become more glamourous than it was 10 plus years ago. It has climbed up the list substantially however long that list is. This is hard to dispute.

[sdrealtor]

I dont beleive he ever said San Diego was more glamourous than Miami. He said it has become more glamourous than it was 10 plus years ago. It has climbed up the list substantially however long that list is. This is hard to dispute.

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