Why I am leaving San Diego

[(former)FormerSanDiegan]

[quote=jstoesz]oh just to hammer my whole point home about how much homes cost here in relation to better neighborhoods in other cities.

This is the zip I grew up in.

http://realestate.aol.com/55419-neighborhood

3.2X !!!
income is 20k more and homes are almost 200k cheaper.[/quote]

I agree with you 100% that San Diego is overpriced compared to many other cities.

My simple point is that right now in 2010, in terms of monthly costs relative to rent or income San Diego (in aggregate and in many median-priced neighborhoods, such as Clairemont) is more affordable than it has been since at least 1977.

[UCGal]

[quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.

[UCGal]

[quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.

[UCGal]

[quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.

[UCGal]

[quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.

[UCGal]

[quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.

[(former)FormerSanDiegan]

[quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.

[(former)FormerSanDiegan]

[quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.

[(former)FormerSanDiegan]

[quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.

[(former)FormerSanDiegan]

[quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.

[(former)FormerSanDiegan]

[quote=jstoesz]you guys were talking about a neighborhood…rich’s charts are county wide.

Now have the incomes of those living in that neighborhood of clairemont gone up? That is harder data to find…

Here is the current.

http://realestate.aol.com/92117-neighborhood

Wow 7.7X annual household income…that’s real affordable![/quote]

I pointed out Rich’s graph and you made the point that it was county-wide and not really relevant. I simply picked a neghborhood that is pretty well characterized by the charts, since it tends to be pretty close to the median over the past 20 years (maybe slightly above).

It’s not complicated. These areas are more affordable today than they were in the mid 1990’s or anytime in the past 33+ years.

[jstoesz]

[quote=UCGal][quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.[/quote]

Maybe I am being obtuse, but what are you getting at? Are you saying a home is only worth what the next buyer is willing to pay?

[jstoesz]

[quote=UCGal][quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.[/quote]

Maybe I am being obtuse, but what are you getting at? Are you saying a home is only worth what the next buyer is willing to pay?

[jstoesz]

[quote=UCGal][quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.[/quote]

Maybe I am being obtuse, but what are you getting at? Are you saying a home is only worth what the next buyer is willing to pay?

[jstoesz]

[quote=UCGal][quote=jstoesz]yeah but that is true for every older neighborhood in the country…

Imported retirees bring in new money which skews the data.

Look no further than carmel valley (aka tract home hell) to find crazy overpriced, non-retiree neighborhoods.

There is a small argument for prop 13 screwing us, I am just not persuaded by the magnitude of the effect.[/quote]

Carmel Valley (92130) – avg age of the HOME is 7 years. So the vast majority of owners moved there in the past decade.

Clairemont (92117) – avg age of the HOME is 43 years old. It stands to reason that there are more owners that have been there fore decades.

In other words – it doesn’t matter what my neighbor who just bought paid for their house, if I bought 20 years ago. But if it’s a new neighborhood – everyone paid current (high) prices.[/quote]

Maybe I am being obtuse, but what are you getting at? Are you saying a home is only worth what the next buyer is willing to pay?

[Author]

Posts