What $1.5 million buys right now in three San Diego communities

[phaster]

[quote]
What $1.5 million buys right now in three San Diego communities

Here’s a look at what roughly $1.5 million buys right now in the Carmel Valley, La Jolla and Point Loma communities in San Diego.

http://www.latimes.com/business/realestate/hot-property/la-fi-hp-what-money-buys-20180210-story.html
[/quote]

#sad

$1.5 ain’t what it use to be AND even w/ the markets having a few 1000+ pt drops,… nothing to get excited about (in terms of %)

debasement of money is the new normal,…

[quote]
The Los Angeles Times’s huge sale price isn’t necessarily a turning point for newspapers

The number is eye-popping: $500 million.

…Even when you throw in the Union-Tribune, which Tronc bought for $85 million in 2015, the $500 million total appears inflated.

https://www.washingtonpost.com/news/the-fix/wp/2018/02/07/the-los-angeles-timess-huge-sale-price-isnt-necessarily-a-turning-point-for-newspapers/?utm_term=.3edac6a12bcf
[/quote]

IMHO interesting time(s) ahead, which few are prepared for

[scaredyclassic]

1.5 still gets a really nice place in temecula.

[bewildering]

$850/month HOA for that La Jolla house 7656 Caminito Coromandel. Although, as I work at UCSD I would love that location. I wonder what the $850/month is used for?

[Coronita]

lol… what $1.5 million buys in silicon valley…..

1700sqft 1970 home in Santa Clara.

[an]

[quote=flu]lol… what $1.5 million buys in silicon valley…..

1700sqft 1970 home in Santa Clara.[/quote] or nothing in Cupertino. Cheapest there right now is $1.8 25. That’s the only place under $2m. It’s a 1400 sqft 3/1. If you want 2 bathroom, better be prepare to shell out $2.2m Lol

[FlyerInHi]

This is just because wealth in increasingly created in the big metros. Top 10 or top 20.
After WWII infrastructure and suburbia allowed wealth the spread more evenly.
Now, the smartest people want to be in the big metros.

[an]

[quote=FlyerInHi]This is just because wealth in increasingly created in the big metros. Top 10 or top 20.
After WWII infrastructure and suburbia allowed wealth the spread more evenly.
Now, the smartest people want to be in the big metros.[/quote]
Big metro is Texas like Dallas and Austin is a lot cheaper than Bakersfield, Temecula, Fresno, etc.

[FlyerInHi]

[quote=AN]
Big metro is Texas like Dallas and Austin is a lot cheaper than Bakersfield, Temecula, Fresno, etc.[/quote]
On average over the metro yes, because of the legacy of sprawl. But it depends where. My friend is looking at a 2 bedroom condo in Atlanta for $500k to $600k.
Same for houses in the first beltway in Houston.

I think someone posted that in the Midwest, the house of his childhood is still worth same or less in nominal dollars.

The cities that changed drastically in the last 2 decades are Washington DC and Philadelphia. A surburban house was once worth more than a city center house. But now, a city brownstone is in the $ multimillion.

The US is now looking more like other countries of the world where the top metros rule. Like I said before, the difference after WWII was the insterstate highway system and infrastructure projects such as cheap telephone to every house. San Diego would be a vacation backwater were it not for the interstate, aquaducts, the military and the state universities.

Physical mobility in America is decreasing. Small town folks don’t just pickup and move on their own to the big metros because of the cost of living. People who do more now tend to be those who have education and jobs lined up.

[gzz]

Flyer, that was probably me. My childhood home was purchased in the early 90s by my parents for around 120k, sold in the mid 2000s for 125k, and the zestimate is now 131k. Solid brick 4/2.5 on flat grassy low traffic 9000sf lot in a good school district in a suburb that looks a lot like Midway/Point Loma without the palm trees. (But with factories and cornfields surrounding it. The old shuttered giant car factory might become a casino, but lots of small high tech factories with 15-100 employees doing things like custom machine tools, defense, and lasers).

The house my mother grew up is worth about $80,000, same nominal price as in the mid-80s.

I still like red brick postwar suburban homes but they are rare here. Wonder how much they cost over stucco and wood frame, or if earthquakes are the issue. So many Midwest transplants I bet they’d sell here.

[cvmom]

Brick is not good in earthquakes, doesn’t flex.

[bewildering]

[quote=cvmom]Brick is not good in earthquakes, doesn’t flex.[/quote]

Yep. Brick is the worst construction material in earthquake-prone areas.

“California learned the dangers of brick construction when a major earthquake struck Long Beach in 1933, crumbling schools, churches and shops. Some 120 people died. These so-called unreinforced masonry buildings, or URMs, are vulnerable because the mortar essentially crumbles apart during shaking, bringing down the roof and walls.”

http://www.latimes.com/local/lanow/la-me-earthquake-safety-brick-buildings-inland-empire-20180209-htmlstory.html

[FlyerInHi]

they could use brick veneer for people who like it. Not a lot in San Diego.
the Casa Mira View complex in mira mesa uses bricks on some facades but it’s more expensive then just stucco (i’m an architecture buff so I like to look).

[Escoguy]

Gzz

The house I lived in while in High School (Central Texas) not Austin cost $60K in 1982.

By 2007 it was worth 85K or a whopping average 1.7%/year appreciation.

By 2017 it was worth 112K so over 35 years the appreciation was 1.33%/year.

According to Zillow, it would rent for $1100/month. The problem with smallish towns in Texas is the economy is not very diverse and if things go wrong, then what little activity can dry up.

Kind of crazy to think three years rent of my current home in Escondido could buy my childhood home mortgage free.

[phaster]

[quote=bewildering][quote=cvmom]Brick is not good in earthquakes, doesn’t flex.[/quote]

Yep. Brick is the worst construction material in earthquake-prone areas.

“California learned the dangers of brick construction when a major earthquake struck Long Beach in 1933, crumbling schools, churches and shops. Some 120 people died. These so-called unreinforced masonry buildings, or URMs, are vulnerable because the mortar essentially crumbles apart during shaking, bringing down the roof and walls.”

http://www.latimes.com/local/lanow/la-me-earthquake-safety-brick-buildings-inland-empire-20180209-htmlstory.html

http://www.cnn.com/2009/TECH/06/11/green.building.material/index.html

[/quote]

FWIW given climate change and hence a longer wild fire season,… one advantage of brick is its “fireproof” WRT a flexible wooden structure

http://www.energy-design-tools.aud.ucla.edu/FIRES.html

http://www.cnn.com/2009/TECH/06/11/green.building.material/index.html

[phaster]

[quote=bewildering]$850/month HOA for that La Jolla house 7656 Caminito Coromandel. Although, as I work at UCSD I would love that location. I wonder what the $850/month is used for?[/quote]

“roads” in the development devoid of pot-holes?

[Author]

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