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sdduuuude.
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August 23, 2007 at 7:56 AM #9991August 23, 2007 at 8:02 AM #79544
GoUSC
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
August 23, 2007 at 8:02 AM #79672GoUSC
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
August 23, 2007 at 8:02 AM #79694GoUSC
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
August 23, 2007 at 8:10 AM #79697JES
ParticipantAlex, the problem that I have is understanding what exactly has happened the past 7 years to drive prices west of the 5 in an area like Carlsbad up 150%+. Seriously, in 2000 I could have bought a home in S.Carlsbad west of the 5 for 300k. That same home is now 900k. In 2000, there really wasn’t much more land left to build on west of the 5 either. Has San Diego’s economy fundamentally changed since 2000? One thing that I am certain has changed is that we went through a period of rampant speculation driven by easy money and low interest rates, roughly during that same time period. To make the case that prices will not drop, you need to understand how they got to where they are. Convince me that current prices west of the 5 are in line with the fundamentals and I will agree with you that they will not fall.
August 23, 2007 at 8:10 AM #79546JES
ParticipantAlex, the problem that I have is understanding what exactly has happened the past 7 years to drive prices west of the 5 in an area like Carlsbad up 150%+. Seriously, in 2000 I could have bought a home in S.Carlsbad west of the 5 for 300k. That same home is now 900k. In 2000, there really wasn’t much more land left to build on west of the 5 either. Has San Diego’s economy fundamentally changed since 2000? One thing that I am certain has changed is that we went through a period of rampant speculation driven by easy money and low interest rates, roughly during that same time period. To make the case that prices will not drop, you need to understand how they got to where they are. Convince me that current prices west of the 5 are in line with the fundamentals and I will agree with you that they will not fall.
August 23, 2007 at 8:10 AM #79675JES
ParticipantAlex, the problem that I have is understanding what exactly has happened the past 7 years to drive prices west of the 5 in an area like Carlsbad up 150%+. Seriously, in 2000 I could have bought a home in S.Carlsbad west of the 5 for 300k. That same home is now 900k. In 2000, there really wasn’t much more land left to build on west of the 5 either. Has San Diego’s economy fundamentally changed since 2000? One thing that I am certain has changed is that we went through a period of rampant speculation driven by easy money and low interest rates, roughly during that same time period. To make the case that prices will not drop, you need to understand how they got to where they are. Convince me that current prices west of the 5 are in line with the fundamentals and I will agree with you that they will not fall.
August 23, 2007 at 8:10 AM #79549hipmatt
ParticipantAlex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.
August 23, 2007 at 8:10 AM #79700hipmatt
ParticipantAlex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.
August 23, 2007 at 8:10 AM #79677hipmatt
ParticipantAlex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.
August 23, 2007 at 8:11 AM #79552Coronita
ParticipantAlex_angel,
With all due respect. In San Diego, land is plenty. This isn't the bay area. Move a few miles inland, off of 56, there's plenty of land.
August 23, 2007 at 8:11 AM #79703Coronita
ParticipantAlex_angel,
With all due respect. In San Diego, land is plenty. This isn't the bay area. Move a few miles inland, off of 56, there's plenty of land.
August 23, 2007 at 8:11 AM #79680Coronita
ParticipantAlex_angel,
With all due respect. In San Diego, land is plenty. This isn't the bay area. Move a few miles inland, off of 56, there's plenty of land.
August 23, 2007 at 8:13 AM #79561JES
ParticipantI will agree that prices west of the 5 will not drop off a cliff, but I am having a hard time understanding why a home that is 900k in S.Carlsbad can’t easily drop to, say, 600k.
August 23, 2007 at 8:13 AM #79712JES
ParticipantI will agree that prices west of the 5 will not drop off a cliff, but I am having a hard time understanding why a home that is 900k in S.Carlsbad can’t easily drop to, say, 600k.
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