When will be a good time to buy in san diego?

[sdbubble]

I just did a check in the Mira Mesa area and you can in fact buy a house with 20% down for LESS THAN THE COST OF RENT in that area now. Wow. There is a 90% chance that it will be cheaper next year in my opinion, we have so much bad inventory to burn through.

Do you guys think that the rent market, in effect, can support the housing market prices???

With 20% down you can get a 3 bedroom house for $1600/month.
Rent is $1800/month. How much below rent can we go?

I think the real problem is, no one can afford 20% down anymore, everyone is in massive debt right now. So I wonder if the correct figure for comparison is more like 5% or 10% down max? What ya think?

Land lords are not likely to drop their rent prices unless this over supply turns into new rentals and demand drops off.

[jficquette]

I have been checking the rentals on craiglist and I saw two yesterday in North County where the solicited rent was stated as “reduced”.

Rents are too high here to compete with what you can rent in high growth cities should as Phoenix, Dallas, Houston, Atlanta, Denver.

I moved away a couple years ago to come back. I am never leaving again but people with higher expenses, kids etc are going to be leaving for better jobs and lower cost of living.

I know this has been going on for a couple of years but I feel that it will start to accelerate simply because the job market here is not creating the high paying jobs it takes to live here and some people have no choice.

John

[jficquette]

I have been checking the rentals on craiglist and I saw two yesterday in North County where the solicited rent was stated as “reduced”.

Rents are too high here to compete with what you can rent in high growth cities should as Phoenix, Dallas, Houston, Atlanta, Denver.

I moved away a couple years ago to come back. I am never leaving again but people with higher expenses, kids etc are going to be leaving for better jobs and lower cost of living.

I know this has been going on for a couple of years but I feel that it will start to accelerate simply because the job market here is not creating the high paying jobs it takes to live here and some people have no choice.

John

[jficquette]

I have been checking the rentals on craiglist and I saw two yesterday in North County where the solicited rent was stated as “reduced”.

Rents are too high here to compete with what you can rent in high growth cities should as Phoenix, Dallas, Houston, Atlanta, Denver.

I moved away a couple years ago to come back. I am never leaving again but people with higher expenses, kids etc are going to be leaving for better jobs and lower cost of living.

I know this has been going on for a couple of years but I feel that it will start to accelerate simply because the job market here is not creating the high paying jobs it takes to live here and some people have no choice.

John

[jficquette]

I have been checking the rentals on craiglist and I saw two yesterday in North County where the solicited rent was stated as “reduced”.

Rents are too high here to compete with what you can rent in high growth cities should as Phoenix, Dallas, Houston, Atlanta, Denver.

I moved away a couple years ago to come back. I am never leaving again but people with higher expenses, kids etc are going to be leaving for better jobs and lower cost of living.

I know this has been going on for a couple of years but I feel that it will start to accelerate simply because the job market here is not creating the high paying jobs it takes to live here and some people have no choice.

John

[jficquette]

I have been checking the rentals on craiglist and I saw two yesterday in North County where the solicited rent was stated as “reduced”.

Rents are too high here to compete with what you can rent in high growth cities should as Phoenix, Dallas, Houston, Atlanta, Denver.

I moved away a couple years ago to come back. I am never leaving again but people with higher expenses, kids etc are going to be leaving for better jobs and lower cost of living.

I know this has been going on for a couple of years but I feel that it will start to accelerate simply because the job market here is not creating the high paying jobs it takes to live here and some people have no choice.

John

[sdbubble]

The population has been decreasing in san diego for 4-5 years now as people move away from the high cost of living.

Employment is flat, wages are flat, cost of living has sky rocketed.

Its pretty messed up when someone making 100K a year has to spend half their take home pay on their mortgage for a tiny crappy house.

I really have NO IDEA how people make ends meet in san diego when they have kids here. The job market has never been great here.

People will eventually throw in the towel, the sunshine tax is just too high. Especially when you get older and dont do out door things as much. Why live in a tiny termite infested shack with two kids that costed 400,000 when you can almost by a mansion in other parts of the country for the same price? Crazy.

I wonder if its worth it sometimes myself, and I make a lot more than the average person. I have no idea how my friends get by who make near the median salary, they are suffering and always stressed about money.

[sdbubble]

The population has been decreasing in san diego for 4-5 years now as people move away from the high cost of living.

Employment is flat, wages are flat, cost of living has sky rocketed.

Its pretty messed up when someone making 100K a year has to spend half their take home pay on their mortgage for a tiny crappy house.

I really have NO IDEA how people make ends meet in san diego when they have kids here. The job market has never been great here.

People will eventually throw in the towel, the sunshine tax is just too high. Especially when you get older and dont do out door things as much. Why live in a tiny termite infested shack with two kids that costed 400,000 when you can almost by a mansion in other parts of the country for the same price? Crazy.

I wonder if its worth it sometimes myself, and I make a lot more than the average person. I have no idea how my friends get by who make near the median salary, they are suffering and always stressed about money.

[sdbubble]

The population has been decreasing in san diego for 4-5 years now as people move away from the high cost of living.

Employment is flat, wages are flat, cost of living has sky rocketed.

Its pretty messed up when someone making 100K a year has to spend half their take home pay on their mortgage for a tiny crappy house.

I really have NO IDEA how people make ends meet in san diego when they have kids here. The job market has never been great here.

People will eventually throw in the towel, the sunshine tax is just too high. Especially when you get older and dont do out door things as much. Why live in a tiny termite infested shack with two kids that costed 400,000 when you can almost by a mansion in other parts of the country for the same price? Crazy.

I wonder if its worth it sometimes myself, and I make a lot more than the average person. I have no idea how my friends get by who make near the median salary, they are suffering and always stressed about money.

[sdbubble]

The population has been decreasing in san diego for 4-5 years now as people move away from the high cost of living.

Employment is flat, wages are flat, cost of living has sky rocketed.

Its pretty messed up when someone making 100K a year has to spend half their take home pay on their mortgage for a tiny crappy house.

I really have NO IDEA how people make ends meet in san diego when they have kids here. The job market has never been great here.

People will eventually throw in the towel, the sunshine tax is just too high. Especially when you get older and dont do out door things as much. Why live in a tiny termite infested shack with two kids that costed 400,000 when you can almost by a mansion in other parts of the country for the same price? Crazy.

I wonder if its worth it sometimes myself, and I make a lot more than the average person. I have no idea how my friends get by who make near the median salary, they are suffering and always stressed about money.

[sdbubble]

The population has been decreasing in san diego for 4-5 years now as people move away from the high cost of living.

Employment is flat, wages are flat, cost of living has sky rocketed.

Its pretty messed up when someone making 100K a year has to spend half their take home pay on their mortgage for a tiny crappy house.

I really have NO IDEA how people make ends meet in san diego when they have kids here. The job market has never been great here.

People will eventually throw in the towel, the sunshine tax is just too high. Especially when you get older and dont do out door things as much. Why live in a tiny termite infested shack with two kids that costed 400,000 when you can almost by a mansion in other parts of the country for the same price? Crazy.

I wonder if its worth it sometimes myself, and I make a lot more than the average person. I have no idea how my friends get by who make near the median salary, they are suffering and always stressed about money.

[jficquette]

SDBubble,

I moved here in 1998 from Atlanta and moved back to Atlanta in August 2006 only to move back here in August 2007.

I moved away to go back to what I was doing which was placing Accounting and Finance professionals. Atlanta has been a boom city for 40 years and I doubt if you could find a better combination of high paying jobs and low housing prices.

The problem was I had no idea how much San Diego had endeared itself to me and decided that I rather try my luck out here then live in a big, busy, hot Southern Town with all of its issues, crime, lousy weather, traffic etc.

If I had any sense I would probably move back and buy a nice house in North Georgia for $350k and just make myself accept the fact that San Diego only makes sense for those who moved here 15- 20 years ago and not for relative newcomers.

John

[jficquette]

SDBubble,

I moved here in 1998 from Atlanta and moved back to Atlanta in August 2006 only to move back here in August 2007.

I moved away to go back to what I was doing which was placing Accounting and Finance professionals. Atlanta has been a boom city for 40 years and I doubt if you could find a better combination of high paying jobs and low housing prices.

The problem was I had no idea how much San Diego had endeared itself to me and decided that I rather try my luck out here then live in a big, busy, hot Southern Town with all of its issues, crime, lousy weather, traffic etc.

If I had any sense I would probably move back and buy a nice house in North Georgia for $350k and just make myself accept the fact that San Diego only makes sense for those who moved here 15- 20 years ago and not for relative newcomers.

John

[jficquette]

SDBubble,

I moved here in 1998 from Atlanta and moved back to Atlanta in August 2006 only to move back here in August 2007.

I moved away to go back to what I was doing which was placing Accounting and Finance professionals. Atlanta has been a boom city for 40 years and I doubt if you could find a better combination of high paying jobs and low housing prices.

The problem was I had no idea how much San Diego had endeared itself to me and decided that I rather try my luck out here then live in a big, busy, hot Southern Town with all of its issues, crime, lousy weather, traffic etc.

If I had any sense I would probably move back and buy a nice house in North Georgia for $350k and just make myself accept the fact that San Diego only makes sense for those who moved here 15- 20 years ago and not for relative newcomers.

John

[jficquette]

SDBubble,

I moved here in 1998 from Atlanta and moved back to Atlanta in August 2006 only to move back here in August 2007.

I moved away to go back to what I was doing which was placing Accounting and Finance professionals. Atlanta has been a boom city for 40 years and I doubt if you could find a better combination of high paying jobs and low housing prices.

The problem was I had no idea how much San Diego had endeared itself to me and decided that I rather try my luck out here then live in a big, busy, hot Southern Town with all of its issues, crime, lousy weather, traffic etc.

If I had any sense I would probably move back and buy a nice house in North Georgia for $350k and just make myself accept the fact that San Diego only makes sense for those who moved here 15- 20 years ago and not for relative newcomers.

John

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