From a previous thread, consensus on this site seems to be that San Diego housing prices began to exceed a reasonable level in 2003, give or take a few months. How does this affect downtown, since a lot of residential real estate downtown didn’t exist yet in 2003?
(As a side note, I have no reason to dispute anyone’s math vis a vis whether 2003 prices were reasonable given historical averages. What I can say is that when I began looking to move up and out of my University Heights condo as far back as 2002, I was appalled at how little half a million dollars could buy. Orange shag carpet, hollow wooden closet doors, GUNSHOT HOLES in the front door of one house I looked at — shudder. Seems to me that if that’s what we return to, plenty of folks will still be priced out.)
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