Riskiest Cities For Homeowners

[Nor-LA-SD-guy]

“I’m proud to live in a ‘dry’ river bed that floods every 6 months. ”

SK
ScaryCat
Funny thing is I seem to remember many more of these type of things happening (along with houses burning etc…) in the 760 than the 909.

But perception is what perception is.

[Ren]

[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]

Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).

I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.

As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.

[Ren]

[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]

Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).

I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.

As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.

[Ren]

[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]

Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).

I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.

As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.

[Ren]

[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]

Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).

I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.

As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.

[Ren]

[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]

Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).

I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.

As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.

[Nor-LA-SD-guy]

I have yet to see any ghost towns anywhere in TV, although yes there is no argument homes here were severely over priced at one point as everywhere else was as well.

[Nor-LA-SD-guy]

I have yet to see any ghost towns anywhere in TV, although yes there is no argument homes here were severely over priced at one point as everywhere else was as well.

[Nor-LA-SD-guy]

I have yet to see any ghost towns anywhere in TV, although yes there is no argument homes here were severely over priced at one point as everywhere else was as well.

[Nor-LA-SD-guy]

I have yet to see any ghost towns anywhere in TV, although yes there is no argument homes here were severely over priced at one point as everywhere else was as well.

[Nor-LA-SD-guy]

I have yet to see any ghost towns anywhere in TV, although yes there is no argument homes here were severely over priced at one point as everywhere else was as well.

[carlsbadworker]

[quote=Ren]Kind of a sweeping generalization, don’t you think?[/quote]

First of all, I don’t mean to look down on anyone. I bought in Temecula before you do and I commute to Carlsbad as well. But I have data to back up my claim. Although Temecula is a rich city (as rich as Carlsbad, as pointed out by TG a while back), that’s looking at its median income. But if you look at $150K-$200K category, TV only has 2.3% of population in that category, that compares to 5.3% in SD, 6.4% of Carlsbad. Therefore, Carlsbad residents are more affordable of Carlsbad home prices (~600K) than Temecula residents.
Second, if you look at other demographic info. Temecula residents have very good eduction as well, so I attribute the reason that they have lower high income category to their ages. Temecula is very young, and these young professionals have yet to climb up their corporate ladder. That’s why I think their jobs are less stable and marginal.
Third, I have good faith in TV’s long-term future (that’s one of the reason I bought). But in near-term, it has more delinquency and more foreclosure, that will certainly add downward price pressure. A house on my street was just listed and it was purchased for less than 2 years. In the last two years, there’re so many homes bought in TV with FHA or VA loan, which are essentially almost no down payment bet for the buyers. That is a time bomb for the next few years.
Of course, I admit that whether San Diego will have less downward price pressure is just an opinion on my part. I have not studied it close enough to have any data to back that up.

[carlsbadworker]

[quote=Ren]Kind of a sweeping generalization, don’t you think?[/quote]

First of all, I don’t mean to look down on anyone. I bought in Temecula before you do and I commute to Carlsbad as well. But I have data to back up my claim. Although Temecula is a rich city (as rich as Carlsbad, as pointed out by TG a while back), that’s looking at its median income. But if you look at $150K-$200K category, TV only has 2.3% of population in that category, that compares to 5.3% in SD, 6.4% of Carlsbad. Therefore, Carlsbad residents are more affordable of Carlsbad home prices (~600K) than Temecula residents.
Second, if you look at other demographic info. Temecula residents have very good eduction as well, so I attribute the reason that they have lower high income category to their ages. Temecula is very young, and these young professionals have yet to climb up their corporate ladder. That’s why I think their jobs are less stable and marginal.
Third, I have good faith in TV’s long-term future (that’s one of the reason I bought). But in near-term, it has more delinquency and more foreclosure, that will certainly add downward price pressure. A house on my street was just listed and it was purchased for less than 2 years. In the last two years, there’re so many homes bought in TV with FHA or VA loan, which are essentially almost no down payment bet for the buyers. That is a time bomb for the next few years.
Of course, I admit that whether San Diego will have less downward price pressure is just an opinion on my part. I have not studied it close enough to have any data to back that up.

[carlsbadworker]

[quote=Ren]Kind of a sweeping generalization, don’t you think?[/quote]

First of all, I don’t mean to look down on anyone. I bought in Temecula before you do and I commute to Carlsbad as well. But I have data to back up my claim. Although Temecula is a rich city (as rich as Carlsbad, as pointed out by TG a while back), that’s looking at its median income. But if you look at $150K-$200K category, TV only has 2.3% of population in that category, that compares to 5.3% in SD, 6.4% of Carlsbad. Therefore, Carlsbad residents are more affordable of Carlsbad home prices (~600K) than Temecula residents.
Second, if you look at other demographic info. Temecula residents have very good eduction as well, so I attribute the reason that they have lower high income category to their ages. Temecula is very young, and these young professionals have yet to climb up their corporate ladder. That’s why I think their jobs are less stable and marginal.
Third, I have good faith in TV’s long-term future (that’s one of the reason I bought). But in near-term, it has more delinquency and more foreclosure, that will certainly add downward price pressure. A house on my street was just listed and it was purchased for less than 2 years. In the last two years, there’re so many homes bought in TV with FHA or VA loan, which are essentially almost no down payment bet for the buyers. That is a time bomb for the next few years.
Of course, I admit that whether San Diego will have less downward price pressure is just an opinion on my part. I have not studied it close enough to have any data to back that up.

[carlsbadworker]

[quote=Ren]Kind of a sweeping generalization, don’t you think?[/quote]

First of all, I don’t mean to look down on anyone. I bought in Temecula before you do and I commute to Carlsbad as well. But I have data to back up my claim. Although Temecula is a rich city (as rich as Carlsbad, as pointed out by TG a while back), that’s looking at its median income. But if you look at $150K-$200K category, TV only has 2.3% of population in that category, that compares to 5.3% in SD, 6.4% of Carlsbad. Therefore, Carlsbad residents are more affordable of Carlsbad home prices (~600K) than Temecula residents.
Second, if you look at other demographic info. Temecula residents have very good eduction as well, so I attribute the reason that they have lower high income category to their ages. Temecula is very young, and these young professionals have yet to climb up their corporate ladder. That’s why I think their jobs are less stable and marginal.
Third, I have good faith in TV’s long-term future (that’s one of the reason I bought). But in near-term, it has more delinquency and more foreclosure, that will certainly add downward price pressure. A house on my street was just listed and it was purchased for less than 2 years. In the last two years, there’re so many homes bought in TV with FHA or VA loan, which are essentially almost no down payment bet for the buyers. That is a time bomb for the next few years.
Of course, I admit that whether San Diego will have less downward price pressure is just an opinion on my part. I have not studied it close enough to have any data to back that up.

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