Why I am leaving San Diego

[bearishgurl]

[quote=jstoesz]No my job is in cameron park and my wife’s is in el dorado hills. Both of our commutes should be ~15mins without traffic or severe weather. And if we are snowed in…I can think of no better excuse not to go to work. I miss snow days.[/quote]

I see now. Was thinking of “Sacramento proper.”

[jstoesz]

No worries.

I disagree with you about the foreign money issue though. I have not seen the stats though. But I can not imagine foreign cash makes up more than 5% of the real estate market (even 1% seems way to high). If we are soley in the realm of beachfront caliber property, then yes SDers have some serious competition. As you get one or two houses back (not blocks) I would bet that money drops off exponentially. By the time you get to Rancho Sante Fe, or Hillcrest we are no longer talking vacation homes and foreign cash.

This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money. It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.

[jstoesz]

No worries.

I disagree with you about the foreign money issue though. I have not seen the stats though. But I can not imagine foreign cash makes up more than 5% of the real estate market (even 1% seems way to high). If we are soley in the realm of beachfront caliber property, then yes SDers have some serious competition. As you get one or two houses back (not blocks) I would bet that money drops off exponentially. By the time you get to Rancho Sante Fe, or Hillcrest we are no longer talking vacation homes and foreign cash.

This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money. It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.

[jstoesz]

No worries.

I disagree with you about the foreign money issue though. I have not seen the stats though. But I can not imagine foreign cash makes up more than 5% of the real estate market (even 1% seems way to high). If we are soley in the realm of beachfront caliber property, then yes SDers have some serious competition. As you get one or two houses back (not blocks) I would bet that money drops off exponentially. By the time you get to Rancho Sante Fe, or Hillcrest we are no longer talking vacation homes and foreign cash.

This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money. It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.

[jstoesz]

No worries.

I disagree with you about the foreign money issue though. I have not seen the stats though. But I can not imagine foreign cash makes up more than 5% of the real estate market (even 1% seems way to high). If we are soley in the realm of beachfront caliber property, then yes SDers have some serious competition. As you get one or two houses back (not blocks) I would bet that money drops off exponentially. By the time you get to Rancho Sante Fe, or Hillcrest we are no longer talking vacation homes and foreign cash.

This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money. It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.

[jstoesz]

No worries.

I disagree with you about the foreign money issue though. I have not seen the stats though. But I can not imagine foreign cash makes up more than 5% of the real estate market (even 1% seems way to high). If we are soley in the realm of beachfront caliber property, then yes SDers have some serious competition. As you get one or two houses back (not blocks) I would bet that money drops off exponentially. By the time you get to Rancho Sante Fe, or Hillcrest we are no longer talking vacation homes and foreign cash.

This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money. It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.

[briansd1]

[quote=jstoesz]
This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money.

[/quote]

I agree with your assessment. When I was looking downtown the Realtors told me about the foreign cash, everybody wants to live here, blah, blah, blah.

Granted in downtown SD, there were foreign buyers from Arizona and Nevada, but they were speculators more than anything. Once the market turned south, they got clobbered and are losing their condos to foreclosures.

I can understand cash deal on foreclosures from investors/flippers looking for turnover. But I have not seen many foreign buyers buying in “paradise” to hold forever.

[quote=jstoesz]
It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.[/quote]

I blame the banks and government for enabling the irresponsibility. That then fuels a speculative mindset that feeds on itself.

Ban the low/zero downpayment loans, the exotic loans, and the piggyback loans, and prices will adjust accordingly.

[briansd1]

[quote=jstoesz]
This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money.

[/quote]

I agree with your assessment. When I was looking downtown the Realtors told me about the foreign cash, everybody wants to live here, blah, blah, blah.

Granted in downtown SD, there were foreign buyers from Arizona and Nevada, but they were speculators more than anything. Once the market turned south, they got clobbered and are losing their condos to foreclosures.

I can understand cash deal on foreclosures from investors/flippers looking for turnover. But I have not seen many foreign buyers buying in “paradise” to hold forever.

[quote=jstoesz]
It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.[/quote]

I blame the banks and government for enabling the irresponsibility. That then fuels a speculative mindset that feeds on itself.

Ban the low/zero downpayment loans, the exotic loans, and the piggyback loans, and prices will adjust accordingly.

[briansd1]

[quote=jstoesz]
This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money.

[/quote]

I agree with your assessment. When I was looking downtown the Realtors told me about the foreign cash, everybody wants to live here, blah, blah, blah.

Granted in downtown SD, there were foreign buyers from Arizona and Nevada, but they were speculators more than anything. Once the market turned south, they got clobbered and are losing their condos to foreclosures.

I can understand cash deal on foreclosures from investors/flippers looking for turnover. But I have not seen many foreign buyers buying in “paradise” to hold forever.

[quote=jstoesz]
It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.[/quote]

I blame the banks and government for enabling the irresponsibility. That then fuels a speculative mindset that feeds on itself.

Ban the low/zero downpayment loans, the exotic loans, and the piggyback loans, and prices will adjust accordingly.

[briansd1]

[quote=jstoesz]
This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money.

[/quote]

I agree with your assessment. When I was looking downtown the Realtors told me about the foreign cash, everybody wants to live here, blah, blah, blah.

Granted in downtown SD, there were foreign buyers from Arizona and Nevada, but they were speculators more than anything. Once the market turned south, they got clobbered and are losing their condos to foreclosures.

I can understand cash deal on foreclosures from investors/flippers looking for turnover. But I have not seen many foreign buyers buying in “paradise” to hold forever.

[quote=jstoesz]
It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.[/quote]

I blame the banks and government for enabling the irresponsibility. That then fuels a speculative mindset that feeds on itself.

Ban the low/zero downpayment loans, the exotic loans, and the piggyback loans, and prices will adjust accordingly.

[briansd1]

[quote=jstoesz]
This reminds me of the other erroneous idea which some people like to say. “Homes are so expensive because this is such a great place to live.”

People buy what they can with the job they have. The fact that even the nicer areas are so expensive has little to nothing to do with foreign money.

[/quote]

I agree with your assessment. When I was looking downtown the Realtors told me about the foreign cash, everybody wants to live here, blah, blah, blah.

Granted in downtown SD, there were foreign buyers from Arizona and Nevada, but they were speculators more than anything. Once the market turned south, they got clobbered and are losing their condos to foreclosures.

I can understand cash deal on foreclosures from investors/flippers looking for turnover. But I have not seen many foreign buyers buying in “paradise” to hold forever.

[quote=jstoesz]
It has everything to do with the fact the So. Californians are more willing to spend a larger percentage of their income on homes (kind of obvious I know). As to why this is…I blame the character/financial irresponsibility of the people…but that is just me.[/quote]

I blame the banks and government for enabling the irresponsibility. That then fuels a speculative mindset that feeds on itself.

Ban the low/zero downpayment loans, the exotic loans, and the piggyback loans, and prices will adjust accordingly.

[jstoesz]

Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.

[jstoesz]

Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.

[jstoesz]

Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.

[jstoesz]

Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.

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