No more land to build on

[Alex_angel]

Ther are a lot of people that are praying for a crash so they can buy a home west of the 5. Well I’m sorry to say but from mission beach to carlsbad, there really is no more land to build on west of the 5. What you see is what you get. These areas will never go down to those lows that you all hope it gets to. Sorry to say it but you should start looking east of the 5.

[GoUSC]

This 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.

[GoUSC]

This 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.

[GoUSC]

This 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.

[JES]

Alex, 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.

[JES]

Alex, 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.

[JES]

Alex, 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.

[hipmatt]

Alex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.

[hipmatt]

Alex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.

[hipmatt]

Alex … you are OCD too aren’t you… you remind me of 23109vc up in Temecula.

[Coronita]

Alex_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. 

[Coronita]

Alex_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. 

[Coronita]

Alex_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. 

[JES]

I 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.

[JES]

I 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.

[Author]

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