SD Reader: San Diego Economy Still Staggering

[an]

[quote=SD Transplant]It could be two decades before we get back to inflation-adjusted levels of the peak[/quote]
Based on 3% inflation, November 2005’s median home price of $517k, we should be expecting to see a nominal median price of ~$805k if this prediction is true. If inflation is 2%, median price of 768k and if inflation is at 4%, we should expect median price of $1.13M. Sounds a little too optimistic to me.

[Rich Toscano]

I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.

[Rich Toscano]

I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.

[Rich Toscano]

I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.

[Rich Toscano]

I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.

[Rich Toscano]

I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.

[NotCranky]

[quote=Rich Toscano]I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.[/quote]
How in the world could these people featured in the article miss these points you are making?

[NotCranky]

[quote=Rich Toscano]I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.[/quote]
How in the world could these people featured in the article miss these points you are making?

[NotCranky]

[quote=Rich Toscano]I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.[/quote]
How in the world could these people featured in the article miss these points you are making?

[NotCranky]

[quote=Rich Toscano]I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.[/quote]
How in the world could these people featured in the article miss these points you are making?

[NotCranky]

[quote=Rich Toscano]I would be very surprised if we ever hit the peak in INCOME-adjusted terms again. Just think how ridiculously expensive homes got compared to incomes, and what it took (lending wise) to get them there… why would that happen again?

Inflation adjusted is a little different since incomes can rise faster than inflation. But still. That’s a long way off, if ever.

I certainly don’t consider it “pessimistic” to say that we will never hit the inflation adjusted high. That was a terrible affair, in which homes were totally unaffordable and people had to take on huge debt just to buy a place to live. It seemed fun because people were profiting off the rise from expensive to really expensive… but hugely expensive housing is certainly not a desirable outcome.[/quote]
How in the world could these people featured in the article miss these points you are making?

[moneymaker]

I think we are about to see a wave of entrepreneurialism sweep the country. Big companies have no real leadership, read that as vision, and the little guy/gal that just lost their job and can’t seem to land another one will have no choice other than to start their own business, i.e. hire themselves. All that’s needed is knowledge, skill, and determination. I think this new class of small businesses will be refreshing, large companies wil continue to thrive overseas but here in the states I think this will be the decade for small business growth.

[moneymaker]

I think we are about to see a wave of entrepreneurialism sweep the country. Big companies have no real leadership, read that as vision, and the little guy/gal that just lost their job and can’t seem to land another one will have no choice other than to start their own business, i.e. hire themselves. All that’s needed is knowledge, skill, and determination. I think this new class of small businesses will be refreshing, large companies wil continue to thrive overseas but here in the states I think this will be the decade for small business growth.

[moneymaker]

I think we are about to see a wave of entrepreneurialism sweep the country. Big companies have no real leadership, read that as vision, and the little guy/gal that just lost their job and can’t seem to land another one will have no choice other than to start their own business, i.e. hire themselves. All that’s needed is knowledge, skill, and determination. I think this new class of small businesses will be refreshing, large companies wil continue to thrive overseas but here in the states I think this will be the decade for small business growth.

[moneymaker]

I think we are about to see a wave of entrepreneurialism sweep the country. Big companies have no real leadership, read that as vision, and the little guy/gal that just lost their job and can’t seem to land another one will have no choice other than to start their own business, i.e. hire themselves. All that’s needed is knowledge, skill, and determination. I think this new class of small businesses will be refreshing, large companies wil continue to thrive overseas but here in the states I think this will be the decade for small business growth.

[Author]

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