San Diego Housing Still Overpriced

[Ricechex]

Pert….I am hoping you have been to Nicaragua. I was there last year, and got very sick (nothing to do with the country, was sick before I left and thought I would get better) and was staying on the Corn Islands. I was scared to go to any clinic on that island, and wondered about the quality of any service on the mainland. Nicaragua is one of the poorest countries in Central America. Have you considered Honduras or Belize?

[pertinazzio]

I realized to my chagrin after I had posted that I had in effect hijacked the thread – sorry !

Yes, I have been to Nicaragua. It is very poor as you say but also very beautiful and relatively unspoiled. The people are genuinely friendly and there has been very little in the way of penetration by “pandillas” as has happened in El Salvador. Supposedly (it has been a while since I investgated) it has one of the lowest crime rates in the hemisphere as incredible as it may seem.

The issue of future medical treatments is the plan killer I suppose. Even Nicaraguans living here are reluctant to retire there for that very reason.

Back to the main thread, I too am wondering whether it may be time to stop bubble sitting or whether there will be further declines in the areas I am interested which are N PB, sports arena area of point loma and “morena vista” (just north of the 8 and east of the five but south of bay park proper. These areas seem to have come down some but not really so much as to be affordable to us without jobs and at the size we want (a condo around 1500 square feet). A lot of people on this board seem more interested in areas north (kids I guess) and so we don’t here a lot about cheaper coastal areas (the Sports Arena Area I mentioned) and condos on and around Diamond street in PB. How much downside remains in these areas? Any thoughts?

[pertinazzio]

I realized to my chagrin after I had posted that I had in effect hijacked the thread – sorry !

Yes, I have been to Nicaragua. It is very poor as you say but also very beautiful and relatively unspoiled. The people are genuinely friendly and there has been very little in the way of penetration by “pandillas” as has happened in El Salvador. Supposedly (it has been a while since I investgated) it has one of the lowest crime rates in the hemisphere as incredible as it may seem.

The issue of future medical treatments is the plan killer I suppose. Even Nicaraguans living here are reluctant to retire there for that very reason.

Back to the main thread, I too am wondering whether it may be time to stop bubble sitting or whether there will be further declines in the areas I am interested which are N PB, sports arena area of point loma and “morena vista” (just north of the 8 and east of the five but south of bay park proper. These areas seem to have come down some but not really so much as to be affordable to us without jobs and at the size we want (a condo around 1500 square feet). A lot of people on this board seem more interested in areas north (kids I guess) and so we don’t here a lot about cheaper coastal areas (the Sports Arena Area I mentioned) and condos on and around Diamond street in PB. How much downside remains in these areas? Any thoughts?

[pertinazzio]

I realized to my chagrin after I had posted that I had in effect hijacked the thread – sorry !

Yes, I have been to Nicaragua. It is very poor as you say but also very beautiful and relatively unspoiled. The people are genuinely friendly and there has been very little in the way of penetration by “pandillas” as has happened in El Salvador. Supposedly (it has been a while since I investgated) it has one of the lowest crime rates in the hemisphere as incredible as it may seem.

The issue of future medical treatments is the plan killer I suppose. Even Nicaraguans living here are reluctant to retire there for that very reason.

Back to the main thread, I too am wondering whether it may be time to stop bubble sitting or whether there will be further declines in the areas I am interested which are N PB, sports arena area of point loma and “morena vista” (just north of the 8 and east of the five but south of bay park proper. These areas seem to have come down some but not really so much as to be affordable to us without jobs and at the size we want (a condo around 1500 square feet). A lot of people on this board seem more interested in areas north (kids I guess) and so we don’t here a lot about cheaper coastal areas (the Sports Arena Area I mentioned) and condos on and around Diamond street in PB. How much downside remains in these areas? Any thoughts?

[pertinazzio]

I realized to my chagrin after I had posted that I had in effect hijacked the thread – sorry !

Yes, I have been to Nicaragua. It is very poor as you say but also very beautiful and relatively unspoiled. The people are genuinely friendly and there has been very little in the way of penetration by “pandillas” as has happened in El Salvador. Supposedly (it has been a while since I investgated) it has one of the lowest crime rates in the hemisphere as incredible as it may seem.

The issue of future medical treatments is the plan killer I suppose. Even Nicaraguans living here are reluctant to retire there for that very reason.

Back to the main thread, I too am wondering whether it may be time to stop bubble sitting or whether there will be further declines in the areas I am interested which are N PB, sports arena area of point loma and “morena vista” (just north of the 8 and east of the five but south of bay park proper. These areas seem to have come down some but not really so much as to be affordable to us without jobs and at the size we want (a condo around 1500 square feet). A lot of people on this board seem more interested in areas north (kids I guess) and so we don’t here a lot about cheaper coastal areas (the Sports Arena Area I mentioned) and condos on and around Diamond street in PB. How much downside remains in these areas? Any thoughts?

[pertinazzio]

I realized to my chagrin after I had posted that I had in effect hijacked the thread – sorry !

Yes, I have been to Nicaragua. It is very poor as you say but also very beautiful and relatively unspoiled. The people are genuinely friendly and there has been very little in the way of penetration by “pandillas” as has happened in El Salvador. Supposedly (it has been a while since I investgated) it has one of the lowest crime rates in the hemisphere as incredible as it may seem.

The issue of future medical treatments is the plan killer I suppose. Even Nicaraguans living here are reluctant to retire there for that very reason.

Back to the main thread, I too am wondering whether it may be time to stop bubble sitting or whether there will be further declines in the areas I am interested which are N PB, sports arena area of point loma and “morena vista” (just north of the 8 and east of the five but south of bay park proper. These areas seem to have come down some but not really so much as to be affordable to us without jobs and at the size we want (a condo around 1500 square feet). A lot of people on this board seem more interested in areas north (kids I guess) and so we don’t here a lot about cheaper coastal areas (the Sports Arena Area I mentioned) and condos on and around Diamond street in PB. How much downside remains in these areas? Any thoughts?

[SD Realtor]

Pert I still own my condo in Crown Point that I bought in 1991. I think you pretty much pegged it very well for the areas you mentioned. They have depreciated a nice chunk but not even close to where they should be to be what I would consider affordable. I know Crown Point is not North PB but I think you get my drift. These are all great areas but I don’t see the “family” demand for them as I do other areas say in north county or 4S primarly due to the schools. Alot more old money in these areas as well. Don’t get me wrong, there is distress in them because of HELOCs and people treating the homes like ATMs but there are not swaths of new homes like say Stonebridge in Scripps or 4S Ranch. I lived on Diamond St for 3 years in college, about Diamond and Gresham… nice times. Anyways IMO the condo stock varies pretty wildly in PB because you have mostly old stuff mixed in with alot of the speculative big new ones that were built out over the past 10 years. I think the high priced behemoths will fall substantially over time. I think that alot of the smaller older stock has come down a fair share but is nowhere near bottom. Because of the variance in types of condos it is harder to give you an exact number. In general I will say that the areas you have mentioned are BEHIND the depreciation cycle though. Don’t be fooled by the blip up they may have this spring.

[SD Realtor]

Pert I still own my condo in Crown Point that I bought in 1991. I think you pretty much pegged it very well for the areas you mentioned. They have depreciated a nice chunk but not even close to where they should be to be what I would consider affordable. I know Crown Point is not North PB but I think you get my drift. These are all great areas but I don’t see the “family” demand for them as I do other areas say in north county or 4S primarly due to the schools. Alot more old money in these areas as well. Don’t get me wrong, there is distress in them because of HELOCs and people treating the homes like ATMs but there are not swaths of new homes like say Stonebridge in Scripps or 4S Ranch. I lived on Diamond St for 3 years in college, about Diamond and Gresham… nice times. Anyways IMO the condo stock varies pretty wildly in PB because you have mostly old stuff mixed in with alot of the speculative big new ones that were built out over the past 10 years. I think the high priced behemoths will fall substantially over time. I think that alot of the smaller older stock has come down a fair share but is nowhere near bottom. Because of the variance in types of condos it is harder to give you an exact number. In general I will say that the areas you have mentioned are BEHIND the depreciation cycle though. Don’t be fooled by the blip up they may have this spring.

[SD Realtor]

Pert I still own my condo in Crown Point that I bought in 1991. I think you pretty much pegged it very well for the areas you mentioned. They have depreciated a nice chunk but not even close to where they should be to be what I would consider affordable. I know Crown Point is not North PB but I think you get my drift. These are all great areas but I don’t see the “family” demand for them as I do other areas say in north county or 4S primarly due to the schools. Alot more old money in these areas as well. Don’t get me wrong, there is distress in them because of HELOCs and people treating the homes like ATMs but there are not swaths of new homes like say Stonebridge in Scripps or 4S Ranch. I lived on Diamond St for 3 years in college, about Diamond and Gresham… nice times. Anyways IMO the condo stock varies pretty wildly in PB because you have mostly old stuff mixed in with alot of the speculative big new ones that were built out over the past 10 years. I think the high priced behemoths will fall substantially over time. I think that alot of the smaller older stock has come down a fair share but is nowhere near bottom. Because of the variance in types of condos it is harder to give you an exact number. In general I will say that the areas you have mentioned are BEHIND the depreciation cycle though. Don’t be fooled by the blip up they may have this spring.

[SD Realtor]

Pert I still own my condo in Crown Point that I bought in 1991. I think you pretty much pegged it very well for the areas you mentioned. They have depreciated a nice chunk but not even close to where they should be to be what I would consider affordable. I know Crown Point is not North PB but I think you get my drift. These are all great areas but I don’t see the “family” demand for them as I do other areas say in north county or 4S primarly due to the schools. Alot more old money in these areas as well. Don’t get me wrong, there is distress in them because of HELOCs and people treating the homes like ATMs but there are not swaths of new homes like say Stonebridge in Scripps or 4S Ranch. I lived on Diamond St for 3 years in college, about Diamond and Gresham… nice times. Anyways IMO the condo stock varies pretty wildly in PB because you have mostly old stuff mixed in with alot of the speculative big new ones that were built out over the past 10 years. I think the high priced behemoths will fall substantially over time. I think that alot of the smaller older stock has come down a fair share but is nowhere near bottom. Because of the variance in types of condos it is harder to give you an exact number. In general I will say that the areas you have mentioned are BEHIND the depreciation cycle though. Don’t be fooled by the blip up they may have this spring.

[SD Realtor]

Pert I still own my condo in Crown Point that I bought in 1991. I think you pretty much pegged it very well for the areas you mentioned. They have depreciated a nice chunk but not even close to where they should be to be what I would consider affordable. I know Crown Point is not North PB but I think you get my drift. These are all great areas but I don’t see the “family” demand for them as I do other areas say in north county or 4S primarly due to the schools. Alot more old money in these areas as well. Don’t get me wrong, there is distress in them because of HELOCs and people treating the homes like ATMs but there are not swaths of new homes like say Stonebridge in Scripps or 4S Ranch. I lived on Diamond St for 3 years in college, about Diamond and Gresham… nice times. Anyways IMO the condo stock varies pretty wildly in PB because you have mostly old stuff mixed in with alot of the speculative big new ones that were built out over the past 10 years. I think the high priced behemoths will fall substantially over time. I think that alot of the smaller older stock has come down a fair share but is nowhere near bottom. Because of the variance in types of condos it is harder to give you an exact number. In general I will say that the areas you have mentioned are BEHIND the depreciation cycle though. Don’t be fooled by the blip up they may have this spring.

[UCGal]

Continuing the hijack on the “boomer” definition…

I think people’s definition of boomer depends on their age. I’m 47, so by the definitions that move “boomer” qualifications to birth years in the mid 60’s… I’m a boomer.

But my dad wasn’t a WWII vet – which is part of the definition… He was a Korean war vet. And I’m the youngest of 3 kids…

Now my husband, 10 years older than me, is full on “boomer”. His dad served in WWII, came back, married, and started having kids.

boomers typically had to worry about Vietnam and were old enough to have been part of or observed the whole counter culture 60’s thing. I was in grade school during that era.

[UCGal]

Continuing the hijack on the “boomer” definition…

I think people’s definition of boomer depends on their age. I’m 47, so by the definitions that move “boomer” qualifications to birth years in the mid 60’s… I’m a boomer.

But my dad wasn’t a WWII vet – which is part of the definition… He was a Korean war vet. And I’m the youngest of 3 kids…

Now my husband, 10 years older than me, is full on “boomer”. His dad served in WWII, came back, married, and started having kids.

boomers typically had to worry about Vietnam and were old enough to have been part of or observed the whole counter culture 60’s thing. I was in grade school during that era.

[UCGal]

Continuing the hijack on the “boomer” definition…

I think people’s definition of boomer depends on their age. I’m 47, so by the definitions that move “boomer” qualifications to birth years in the mid 60’s… I’m a boomer.

But my dad wasn’t a WWII vet – which is part of the definition… He was a Korean war vet. And I’m the youngest of 3 kids…

Now my husband, 10 years older than me, is full on “boomer”. His dad served in WWII, came back, married, and started having kids.

boomers typically had to worry about Vietnam and were old enough to have been part of or observed the whole counter culture 60’s thing. I was in grade school during that era.

[UCGal]

Continuing the hijack on the “boomer” definition…

I think people’s definition of boomer depends on their age. I’m 47, so by the definitions that move “boomer” qualifications to birth years in the mid 60’s… I’m a boomer.

But my dad wasn’t a WWII vet – which is part of the definition… He was a Korean war vet. And I’m the youngest of 3 kids…

Now my husband, 10 years older than me, is full on “boomer”. His dad served in WWII, came back, married, and started having kids.

boomers typically had to worry about Vietnam and were old enough to have been part of or observed the whole counter culture 60’s thing. I was in grade school during that era.

[Author]

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