Is San Diego overpriced or is it just corrected?

[GoUSC]

Outside of a limited amount of biotech, tech & sporting goods (aka golf) companies San Diego has little high paying industry. The majority of the high wage earners in this town are doctors, lawyers, a few of us RE developers, and some chosen people at the select companies above. Like our airport we are a destination locale, not a center of industry. Drive north to Irvine and you can see what a true industry center is like. The only way we will become competitive is for home values to come down significantly and our government to offer tax incentives similar to what Texas and Florida offer.

My buddy moved to Texas 6 months ago. He is working for the same company as he was here, makes the same salary (little more actually) and bought a brand new 2600 sq. ft. house for $180,000 just outside Dallas. He had the choice of raising his kids in an apartment here, or a house in Texas. Which would you choose? REALLY.

We can’t compete with that, sunshine or not. The majority of people want a safe, good place to raise their families where they aren’t chained to a mortgage.

[PerryChase]

Elan is closing in Sorrento Valley. They are one of the larger biotechs in SD.

http://www.signonsandiego.com/uniontrib/20070804/news_1b4elan.html

pfizer (formely Agouron) retrenched big time in SD.

As we are now finding out, many of the new drugs are pie-in-the-sky and not any better than the old drugs. What is it about our culture that makes us want to pop a pill instead of changing our life and eating habit?

I’m afraid that biotech will become a big flop. Investors have been sinking all that money in biotech since the 80s with only modest payback. What carried the industry was the take-overs (like houses, they were selling companies to each other).

Soon biotech research will be outsourced to India, China, Singapore anyway.

[PerryChase]

Elan is closing in Sorrento Valley. They are one of the larger biotechs in SD.

http://www.signonsandiego.com/uniontrib/20070804/news_1b4elan.html

pfizer (formely Agouron) retrenched big time in SD.

As we are now finding out, many of the new drugs are pie-in-the-sky and not any better than the old drugs. What is it about our culture that makes us want to pop a pill instead of changing our life and eating habit?

I’m afraid that biotech will become a big flop. Investors have been sinking all that money in biotech since the 80s with only modest payback. What carried the industry was the take-overs (like houses, they were selling companies to each other).

Soon biotech research will be outsourced to India, China, Singapore anyway.

[PerryChase]

Elan is closing in Sorrento Valley. They are one of the larger biotechs in SD.

http://www.signonsandiego.com/uniontrib/20070804/news_1b4elan.html

pfizer (formely Agouron) retrenched big time in SD.

As we are now finding out, many of the new drugs are pie-in-the-sky and not any better than the old drugs. What is it about our culture that makes us want to pop a pill instead of changing our life and eating habit?

I’m afraid that biotech will become a big flop. Investors have been sinking all that money in biotech since the 80s with only modest payback. What carried the industry was the take-overs (like houses, they were selling companies to each other).

Soon biotech research will be outsourced to India, China, Singapore anyway.

[GoUSC]

Agreed 100%. Most of the smaller biotechs will be gobbeled up anyways and the majority of the work will be outsourced.

I have a friend that works at Biogen Idec and frankly I was appalled at how much money they spent on their building. The stone was all imported from Asia, teak floors through-out. If I was an investor I would be screaming bloody murder.

[GoUSC]

Agreed 100%. Most of the smaller biotechs will be gobbeled up anyways and the majority of the work will be outsourced.

I have a friend that works at Biogen Idec and frankly I was appalled at how much money they spent on their building. The stone was all imported from Asia, teak floors through-out. If I was an investor I would be screaming bloody murder.

[GoUSC]

Agreed 100%. Most of the smaller biotechs will be gobbeled up anyways and the majority of the work will be outsourced.

I have a friend that works at Biogen Idec and frankly I was appalled at how much money they spent on their building. The stone was all imported from Asia, teak floors through-out. If I was an investor I would be screaming bloody murder.

[Arty]

I lived in Seattle for over 10 years and 3 years ago I moved to San Diego. For me the only thing I like about SD is its weather. Rest of the city is not as attractive at all compare to Seattle. Of course, this is just my personal opinion.

[Arty]

I lived in Seattle for over 10 years and 3 years ago I moved to San Diego. For me the only thing I like about SD is its weather. Rest of the city is not as attractive at all compare to Seattle. Of course, this is just my personal opinion.

[Arty]

I lived in Seattle for over 10 years and 3 years ago I moved to San Diego. For me the only thing I like about SD is its weather. Rest of the city is not as attractive at all compare to Seattle. Of course, this is just my personal opinion.

[mixxalot]

Good weather and beaches really all thats great here.

I agree- and to me, the prices need to drop by at least another 100k for most folks to buy even a modest condo or home here.

[mixxalot]

Good weather and beaches really all thats great here.

I agree- and to me, the prices need to drop by at least another 100k for most folks to buy even a modest condo or home here.

[mixxalot]

Good weather and beaches really all thats great here.

I agree- and to me, the prices need to drop by at least another 100k for most folks to buy even a modest condo or home here.

[kewp]

I’ve long speculated that the SD housing bubble was largely a result of a *lack* of strong fundamentals here.

Flipping houses was the only way to make money!

[kewp]

I’ve long speculated that the SD housing bubble was largely a result of a *lack* of strong fundamentals here.

Flipping houses was the only way to make money!

[Author]

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