Upper MId to Lower High End Market in NCC

[faterikcartman]

If I’ve read sdr’s recent comments correctly I think I’m with him.

High-end San Diego neighbourhoods are not like a nice area in the Suburbs of Detroit. There, if local industry takes a dive so do prices because no one that doesn’t work there, or is crazy, dreams “if only I could move to Detroit…”

In San Diego, people with money from all over the world travel here, research, and find it has the most temperate climate of any major city in the world. It is beautiful. You can surf, snow ski, and dune buggy, all in the same day. This is one of the premier places to live in the entire planet.

Thus, the high-end San Diego market is somewhat insulated from the vagaries of the economy. Not totally to be sure, but it isn’t so dependent on high wage earners from local industry that the metrics of other markets easily apply.

Less than perfect homes on less than perfect lots will probably come down even in the best regarded areas, but I don’t see the market crashing around properties without issues in the best parts of San Diego.

Moreover, some people with money feel compelled to put it in real estate now for a variety of economic reasons. And there are a lot of people with a lot of money in SoCal. We do pretty well for people who grew up with nothing but are hardly what we would consider “rich”. We do have rich friends however, and you probably wouldn’t be able to tell looking at them. And just in our little circle there must be at least ten couples with homes well over the $1,000,000 mark. Heck, I know two of the couples paid over $20,000,000 for their houses. These people are out there and even when they could live anywhere in the world, the choose southern California.

They seem to get that way, by the way, not by working for someone else. So don’t assume that just because a lot of people are losing their jobs that the high-end is necessarily hurting in the same way.

My opinion is worth no more than you’re paying for it to be sure, but time will tell who is right.

[Anonymous]

Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.

[Anonymous]

Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.

[Anonymous]

Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.

[Anonymous]

Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.

[Anonymous]

Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.

[faterikcartman]

[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]

Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.

I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.

[faterikcartman]

[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]

Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.

I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.

[faterikcartman]

[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]

Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.

I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.

[faterikcartman]

[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]

Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.

I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.

[faterikcartman]

[quote=deadzone]Again you are falling into the same tired argument that SD high end is “insulated” because everyone wants to live here. That is horseshit because Coastal SD high end got hammered in previous RE recessions. Most notably mid-90s.

So in 1995 San Diego was not desirable but now it is more? There is nothing particularly better about living in SD now than in 1995, same weather, same beaches, same everything. Only difference is a downtown ballpark, BFD.[/quote]

Maybe you’re right. And I could be wrong about this too, but many people once thought lots in the Covenant in RSF were out in the sticks and not as desirable as they are today where prices have risen and, so far, held. What changed? Lots of things, and they are not always easily quantifiable, but it is now one of the most desirable and expensive areas in the country. And the only point I’m making here is that it is not 1995. It is not the same population, same tastes, income distribution, etc.

I concede you may be right, but I don’t think so. I think the desirability of certain areas is greater today and the best lots and houses in those areas don’t look to me like they’re going to take the big 40%-50% hit so many other areas have experienced in the state, and that many here thought would eventually hit the high end. As I said, time will tell.

[sdrealtor]

BLah blah blah. There is alot different and the area has been hammered already. The problem is it hasnt been hammerred enough to fit what YOU need to happen to get what YOU need so you deny it.

In the Mid 90’s Encinitas and South Carlsbad barely existed in the eyes of upper middle class folks in SD County. Back then Encinitas was basically Mayberry RFD. There were working class neighborhoods and high end ranch properties in Olivenhain with no much in between. Over the last 15 years SO Carlsbad has become a world class city and people now about it. No one knew what Carlsbad was outside of SoCal people before that. Now there are great public golf courses, good restaurants, beautiful masterplanned communities, major employers (Golf, action sports, biotech) based in this area, Legoland, thousands of new homes, vastly improved schools and yes we still have great weather and beaches. One of those beaches has someone who goes by deadzone sitting around with his head in the sand.

Wake up!! The hammering is over, there are likely some more declines ahead but the only hammering will be on nails for the new homes being built.

[sdrealtor]

BLah blah blah. There is alot different and the area has been hammered already. The problem is it hasnt been hammerred enough to fit what YOU need to happen to get what YOU need so you deny it.

In the Mid 90’s Encinitas and South Carlsbad barely existed in the eyes of upper middle class folks in SD County. Back then Encinitas was basically Mayberry RFD. There were working class neighborhoods and high end ranch properties in Olivenhain with no much in between. Over the last 15 years SO Carlsbad has become a world class city and people now about it. No one knew what Carlsbad was outside of SoCal people before that. Now there are great public golf courses, good restaurants, beautiful masterplanned communities, major employers (Golf, action sports, biotech) based in this area, Legoland, thousands of new homes, vastly improved schools and yes we still have great weather and beaches. One of those beaches has someone who goes by deadzone sitting around with his head in the sand.

Wake up!! The hammering is over, there are likely some more declines ahead but the only hammering will be on nails for the new homes being built.

[sdrealtor]

BLah blah blah. There is alot different and the area has been hammered already. The problem is it hasnt been hammerred enough to fit what YOU need to happen to get what YOU need so you deny it.

In the Mid 90’s Encinitas and South Carlsbad barely existed in the eyes of upper middle class folks in SD County. Back then Encinitas was basically Mayberry RFD. There were working class neighborhoods and high end ranch properties in Olivenhain with no much in between. Over the last 15 years SO Carlsbad has become a world class city and people now about it. No one knew what Carlsbad was outside of SoCal people before that. Now there are great public golf courses, good restaurants, beautiful masterplanned communities, major employers (Golf, action sports, biotech) based in this area, Legoland, thousands of new homes, vastly improved schools and yes we still have great weather and beaches. One of those beaches has someone who goes by deadzone sitting around with his head in the sand.

Wake up!! The hammering is over, there are likely some more declines ahead but the only hammering will be on nails for the new homes being built.

[sdrealtor]

BLah blah blah. There is alot different and the area has been hammered already. The problem is it hasnt been hammerred enough to fit what YOU need to happen to get what YOU need so you deny it.

In the Mid 90’s Encinitas and South Carlsbad barely existed in the eyes of upper middle class folks in SD County. Back then Encinitas was basically Mayberry RFD. There were working class neighborhoods and high end ranch properties in Olivenhain with no much in between. Over the last 15 years SO Carlsbad has become a world class city and people now about it. No one knew what Carlsbad was outside of SoCal people before that. Now there are great public golf courses, good restaurants, beautiful masterplanned communities, major employers (Golf, action sports, biotech) based in this area, Legoland, thousands of new homes, vastly improved schools and yes we still have great weather and beaches. One of those beaches has someone who goes by deadzone sitting around with his head in the sand.

Wake up!! The hammering is over, there are likely some more declines ahead but the only hammering will be on nails for the new homes being built.

[Author]

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