Something to consider for those of you looking for a foreclosure in the suburbs

[MadeInTaiwan]

Summary: Demgraphic changes and market trends like energy prices will make conventional suburbs less desirable. The article suggests that while development like the downtown condos will take a short term hit due to real estate buggle bursting, they are move vialbe in the long run as people will increasingly pay a relative premium for walkable communities served by public transportation.

The upshot is that developers are working to bring urban centers into suburbs as well, so if you choose a repo in places like Temecula, choose wisely.

http://www.theatlantic.com/doc/200803/subprime

[OwnerOfCalifornia]

I have made exactly that argument on this site a few times. Dense, downtown condo concentrations in San Diego and elsewhere may be a market disaster today, but their utility (and value) will be very much appreciated in the years to come.

Global financial and credit tomfoolery aside, a common response to the mentality that downtown property values will recover due to demographic and energy concerns is that such a living arrangement is a ‘young professional’s thing’ and that ‘families will seek out the suburbs’. This directly misses the point. Attitudes will change if circumstances compel them to change; families, kids and all, will learn to live without wasting so much energy on transportation.

Of course, this is all predicated on downtown actually being a walkable, livable community. My experience in downtown is limited to a few Padres games, and it did not strike me pleasantly walkable. Anyone here living in downtown have insights on this?

[OwnerOfCalifornia]

I have made exactly that argument on this site a few times. Dense, downtown condo concentrations in San Diego and elsewhere may be a market disaster today, but their utility (and value) will be very much appreciated in the years to come.

Global financial and credit tomfoolery aside, a common response to the mentality that downtown property values will recover due to demographic and energy concerns is that such a living arrangement is a ‘young professional’s thing’ and that ‘families will seek out the suburbs’. This directly misses the point. Attitudes will change if circumstances compel them to change; families, kids and all, will learn to live without wasting so much energy on transportation.

Of course, this is all predicated on downtown actually being a walkable, livable community. My experience in downtown is limited to a few Padres games, and it did not strike me pleasantly walkable. Anyone here living in downtown have insights on this?

[OwnerOfCalifornia]

I have made exactly that argument on this site a few times. Dense, downtown condo concentrations in San Diego and elsewhere may be a market disaster today, but their utility (and value) will be very much appreciated in the years to come.

Global financial and credit tomfoolery aside, a common response to the mentality that downtown property values will recover due to demographic and energy concerns is that such a living arrangement is a ‘young professional’s thing’ and that ‘families will seek out the suburbs’. This directly misses the point. Attitudes will change if circumstances compel them to change; families, kids and all, will learn to live without wasting so much energy on transportation.

Of course, this is all predicated on downtown actually being a walkable, livable community. My experience in downtown is limited to a few Padres games, and it did not strike me pleasantly walkable. Anyone here living in downtown have insights on this?

[OwnerOfCalifornia]

I have made exactly that argument on this site a few times. Dense, downtown condo concentrations in San Diego and elsewhere may be a market disaster today, but their utility (and value) will be very much appreciated in the years to come.

Global financial and credit tomfoolery aside, a common response to the mentality that downtown property values will recover due to demographic and energy concerns is that such a living arrangement is a ‘young professional’s thing’ and that ‘families will seek out the suburbs’. This directly misses the point. Attitudes will change if circumstances compel them to change; families, kids and all, will learn to live without wasting so much energy on transportation.

Of course, this is all predicated on downtown actually being a walkable, livable community. My experience in downtown is limited to a few Padres games, and it did not strike me pleasantly walkable. Anyone here living in downtown have insights on this?

[OwnerOfCalifornia]

I have made exactly that argument on this site a few times. Dense, downtown condo concentrations in San Diego and elsewhere may be a market disaster today, but their utility (and value) will be very much appreciated in the years to come.

Global financial and credit tomfoolery aside, a common response to the mentality that downtown property values will recover due to demographic and energy concerns is that such a living arrangement is a ‘young professional’s thing’ and that ‘families will seek out the suburbs’. This directly misses the point. Attitudes will change if circumstances compel them to change; families, kids and all, will learn to live without wasting so much energy on transportation.

Of course, this is all predicated on downtown actually being a walkable, livable community. My experience in downtown is limited to a few Padres games, and it did not strike me pleasantly walkable. Anyone here living in downtown have insights on this?

[patientlywaiting]

I know the Downtown condos quite well and I don’t think that the luxury living model is suitable for the average American family because:

1) The spaces are too small and too expensive. How are you going to put two 200lb people in less than 800sf?

2) Americans are pack rats and love to shop for stuff. Look at the growth of the self storage business in the last 20 years.

3) Americans love sports and BBQ. You can’t have football parties and BBQs in a condo.

4) Americans love their cars and most people still feel that taking the bus is for losers.

5) The HOAs are too high.

6) No place for the kids to play. You need parks, sport facilities, etc.. for the kids.

For Downtown to be more successful, you need large basic apartments that are cheap to purchase and maintain. The luxury or pseudo luxury only appeals to the professionals.

I personally think that housing innovation is being hamstrung by local codes and setback requirements.

I believe that large affordable fee-simple row houses with no HOAs are the way to go. Blighted neighborhoods such as Encanto and City Heighs could be rebuild and revived. Allowing such buildings would give incentives to owners to sell their lots and cash out. The housing stock would then be upgraded to modern standards. That alone would solve much of the density and transportation problems.

Row houses with shop houses downstairs and living uptairs is another way to go. Immigrant family would love that because that’s how they lived in their original countries. Travel the world and you will see. Current codes that segretate live and work are exacerbating transportation problems.

San Diego wants to become a world class city but still has the building mentality of 1970s suburbia. We are simply more ornate than the 1970s but it’s basically the same.

[patientlywaiting]

I know the Downtown condos quite well and I don’t think that the luxury living model is suitable for the average American family because:

1) The spaces are too small and too expensive. How are you going to put two 200lb people in less than 800sf?

2) Americans are pack rats and love to shop for stuff. Look at the growth of the self storage business in the last 20 years.

3) Americans love sports and BBQ. You can’t have football parties and BBQs in a condo.

4) Americans love their cars and most people still feel that taking the bus is for losers.

5) The HOAs are too high.

6) No place for the kids to play. You need parks, sport facilities, etc.. for the kids.

For Downtown to be more successful, you need large basic apartments that are cheap to purchase and maintain. The luxury or pseudo luxury only appeals to the professionals.

I personally think that housing innovation is being hamstrung by local codes and setback requirements.

I believe that large affordable fee-simple row houses with no HOAs are the way to go. Blighted neighborhoods such as Encanto and City Heighs could be rebuild and revived. Allowing such buildings would give incentives to owners to sell their lots and cash out. The housing stock would then be upgraded to modern standards. That alone would solve much of the density and transportation problems.

Row houses with shop houses downstairs and living uptairs is another way to go. Immigrant family would love that because that’s how they lived in their original countries. Travel the world and you will see. Current codes that segretate live and work are exacerbating transportation problems.

San Diego wants to become a world class city but still has the building mentality of 1970s suburbia. We are simply more ornate than the 1970s but it’s basically the same.

[patientlywaiting]

I know the Downtown condos quite well and I don’t think that the luxury living model is suitable for the average American family because:

1) The spaces are too small and too expensive. How are you going to put two 200lb people in less than 800sf?

2) Americans are pack rats and love to shop for stuff. Look at the growth of the self storage business in the last 20 years.

3) Americans love sports and BBQ. You can’t have football parties and BBQs in a condo.

4) Americans love their cars and most people still feel that taking the bus is for losers.

5) The HOAs are too high.

6) No place for the kids to play. You need parks, sport facilities, etc.. for the kids.

For Downtown to be more successful, you need large basic apartments that are cheap to purchase and maintain. The luxury or pseudo luxury only appeals to the professionals.

I personally think that housing innovation is being hamstrung by local codes and setback requirements.

I believe that large affordable fee-simple row houses with no HOAs are the way to go. Blighted neighborhoods such as Encanto and City Heighs could be rebuild and revived. Allowing such buildings would give incentives to owners to sell their lots and cash out. The housing stock would then be upgraded to modern standards. That alone would solve much of the density and transportation problems.

Row houses with shop houses downstairs and living uptairs is another way to go. Immigrant family would love that because that’s how they lived in their original countries. Travel the world and you will see. Current codes that segretate live and work are exacerbating transportation problems.

San Diego wants to become a world class city but still has the building mentality of 1970s suburbia. We are simply more ornate than the 1970s but it’s basically the same.

[patientlywaiting]

I know the Downtown condos quite well and I don’t think that the luxury living model is suitable for the average American family because:

1) The spaces are too small and too expensive. How are you going to put two 200lb people in less than 800sf?

2) Americans are pack rats and love to shop for stuff. Look at the growth of the self storage business in the last 20 years.

3) Americans love sports and BBQ. You can’t have football parties and BBQs in a condo.

4) Americans love their cars and most people still feel that taking the bus is for losers.

5) The HOAs are too high.

6) No place for the kids to play. You need parks, sport facilities, etc.. for the kids.

For Downtown to be more successful, you need large basic apartments that are cheap to purchase and maintain. The luxury or pseudo luxury only appeals to the professionals.

I personally think that housing innovation is being hamstrung by local codes and setback requirements.

I believe that large affordable fee-simple row houses with no HOAs are the way to go. Blighted neighborhoods such as Encanto and City Heighs could be rebuild and revived. Allowing such buildings would give incentives to owners to sell their lots and cash out. The housing stock would then be upgraded to modern standards. That alone would solve much of the density and transportation problems.

Row houses with shop houses downstairs and living uptairs is another way to go. Immigrant family would love that because that’s how they lived in their original countries. Travel the world and you will see. Current codes that segretate live and work are exacerbating transportation problems.

San Diego wants to become a world class city but still has the building mentality of 1970s suburbia. We are simply more ornate than the 1970s but it’s basically the same.

[patientlywaiting]

I know the Downtown condos quite well and I don’t think that the luxury living model is suitable for the average American family because:

1) The spaces are too small and too expensive. How are you going to put two 200lb people in less than 800sf?

2) Americans are pack rats and love to shop for stuff. Look at the growth of the self storage business in the last 20 years.

3) Americans love sports and BBQ. You can’t have football parties and BBQs in a condo.

4) Americans love their cars and most people still feel that taking the bus is for losers.

5) The HOAs are too high.

6) No place for the kids to play. You need parks, sport facilities, etc.. for the kids.

For Downtown to be more successful, you need large basic apartments that are cheap to purchase and maintain. The luxury or pseudo luxury only appeals to the professionals.

I personally think that housing innovation is being hamstrung by local codes and setback requirements.

I believe that large affordable fee-simple row houses with no HOAs are the way to go. Blighted neighborhoods such as Encanto and City Heighs could be rebuild and revived. Allowing such buildings would give incentives to owners to sell their lots and cash out. The housing stock would then be upgraded to modern standards. That alone would solve much of the density and transportation problems.

Row houses with shop houses downstairs and living uptairs is another way to go. Immigrant family would love that because that’s how they lived in their original countries. Travel the world and you will see. Current codes that segretate live and work are exacerbating transportation problems.

San Diego wants to become a world class city but still has the building mentality of 1970s suburbia. We are simply more ornate than the 1970s but it’s basically the same.

[Eugene]

We’re going to see a major shift in human behavior in the next 10-20 years. Rather than (or in addition to) moving into walkable communities like the downtown, people will learn to live in big houses with grass lawns without wasting energy on transportation.

To give an idea what can be achieved with existing technology if we start running out of oil. Properly installed 200 sq.ft. solar panel array (around $10k) can generate enough electricity to power a plug-in hybrid car (modified Prius with an extra pack of lead-acid batteries and a wall charger, $10-15k in parts and installation) for 12000 miles a year. Solar panels can last for a very long time, we’re not at risk of running out of sun, lead-acid batteries are relatively easy to maintain. A single up-front investment of 10% of the price of your house will pay for all your trips to work for the next 20 years.

On top of that, people will carpool far more often, electric cars will be more widespread, hopefully solar panel prices will come down.

[Eugene]

We’re going to see a major shift in human behavior in the next 10-20 years. Rather than (or in addition to) moving into walkable communities like the downtown, people will learn to live in big houses with grass lawns without wasting energy on transportation.

To give an idea what can be achieved with existing technology if we start running out of oil. Properly installed 200 sq.ft. solar panel array (around $10k) can generate enough electricity to power a plug-in hybrid car (modified Prius with an extra pack of lead-acid batteries and a wall charger, $10-15k in parts and installation) for 12000 miles a year. Solar panels can last for a very long time, we’re not at risk of running out of sun, lead-acid batteries are relatively easy to maintain. A single up-front investment of 10% of the price of your house will pay for all your trips to work for the next 20 years.

On top of that, people will carpool far more often, electric cars will be more widespread, hopefully solar panel prices will come down.

[Eugene]

We’re going to see a major shift in human behavior in the next 10-20 years. Rather than (or in addition to) moving into walkable communities like the downtown, people will learn to live in big houses with grass lawns without wasting energy on transportation.

To give an idea what can be achieved with existing technology if we start running out of oil. Properly installed 200 sq.ft. solar panel array (around $10k) can generate enough electricity to power a plug-in hybrid car (modified Prius with an extra pack of lead-acid batteries and a wall charger, $10-15k in parts and installation) for 12000 miles a year. Solar panels can last for a very long time, we’re not at risk of running out of sun, lead-acid batteries are relatively easy to maintain. A single up-front investment of 10% of the price of your house will pay for all your trips to work for the next 20 years.

On top of that, people will carpool far more often, electric cars will be more widespread, hopefully solar panel prices will come down.

[Eugene]

We’re going to see a major shift in human behavior in the next 10-20 years. Rather than (or in addition to) moving into walkable communities like the downtown, people will learn to live in big houses with grass lawns without wasting energy on transportation.

To give an idea what can be achieved with existing technology if we start running out of oil. Properly installed 200 sq.ft. solar panel array (around $10k) can generate enough electricity to power a plug-in hybrid car (modified Prius with an extra pack of lead-acid batteries and a wall charger, $10-15k in parts and installation) for 12000 miles a year. Solar panels can last for a very long time, we’re not at risk of running out of sun, lead-acid batteries are relatively easy to maintain. A single up-front investment of 10% of the price of your house will pay for all your trips to work for the next 20 years.

On top of that, people will carpool far more often, electric cars will be more widespread, hopefully solar panel prices will come down.

[Author]

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