[an]

[quote=EconProf]CA voters have spoken, so Newsom is in for 2, or maybe 6 more years. Now, as writer H. L. Mencken once said, they are going to get what they voted for, good and hard.
The exodus from CA of businesses and people will accelerate, as the “push factors” continue to grow. Can San Diego RE be far behind?[/quote]
Econ 101 (supply vs demand) say San Diego’s RE will be just fine. Especially if you’re talking about SFR w/in 15-20 minutes of the coast.

[an]

[quote=Coronita][quote=scaredyclassic]When I look in the mirror I do not recognize myself.[/quote]

I look pretty much the same since I was 30. maybe a little a little better shape. Hair thinner, but that’s about it. I’m told Asians don’t really start to show their age until 60ies, and then it rapidly declines from that point. sunscreen helped.[/quote]
I would say 70s 🙂

[an]

[quote=flyer]You’d be surprised how many people are looking to invest in great ideas, AN.

We initiate the deals, and then get others involved, so it’s a pretty big party.

We’ve had some hits and some misses, but the net has been great.

Use your connections, and go for it.[/quote]
I have connections, just don’t have $50m to throw around.

I can’t walk into Greycroft for example and say, hey I want to join your fund, here’s my $10k. They would laugh me out the door. However, if I say, here’s my $10m, that would probably get them at least thinking about it.

[an]

I hope it passes and get cemented into law permanently. This, along w/ the relax ADU law will make it much more profitable to buy SFR and add a few ADU. I’m watching this intently as well.

[an]

[quote=flyer]Another interesting thing to do in “retirement” is to help fund other people’s dreams. There are a lot of people who don’t make the cut on Shark Tank, or with major film studios, etc., but still have products and intellectual properties with great potential in the global marketplace, and it’s an exciting venture to partner with them to bring their ideas to fruition. We’ve been involved in these type of projects for quite awhile, and it’s something you can continue to do indefinitely. Definitely keeps life interesting.[/quote]Great idea… Now, I just need to find someone to give me $10m so I can start doing this.

Wait, I think that’s too small, maybe $50-100m?

[an]

[quote=sdrealtor]Both true. Those prices are a few months back. Lately it has cooled but that just means a few offers instead of a dozen. I’ll update my monitors later but it looks like we will chug along through the end of the year with a solid but calmer market but come Spring all bets are off again

FWIW threads like this remind me how impatient people are and ignore how powerful the passage of time is. The older I get the more I learn it may be the most powerful force of all[/quote]
Yep, the passage of time and the power of compound interest is HUGE.

[an]

[quote=Coronita]Stealing this post from you, AN…

But I agree… $4000/month for a 1400sqft in Mira Mesa is insane..

https://www.zillow.com/homedetails/7368-New-Salem-St-San-Diego-CA-92126/2068740702_zpid/%5B/quote%5D
After listed for 2 days, they have 19 contacts and 20 applications. I think they’ll get what they’re asking for.

[an]

[quote=sdrealtor]Last 4 closed sales in the hood. Two from Bay Area, One from LA and one from OC. The great migration South continues[/quote]
This also explain crazy rent increases. Thank you out of towners.

[an]

[quote=sdrealtor]Wow that’s awesome the amount of planning going on there. Had no idea. The future seems bright here[/quote]
I’ve been sitting in on those meetings and the result essentially is, either do nothing or do A LOT. So I’m thinking the city will go w/ do A LOT. So it’ll be very interesting to see this whole area evolve over the next 30 years.

[an]

[quote=Coronita]the cool part about 3roots is its right at the corridor to this large industrial park of a lot of biotech and medical device companies. Some of them are doing really well especially those supporting covid related testing and research. A few colleagues started working at these companies recently and they are on a hiring binge. Also as good as mobile engineers these days.
Big growth area imho, especially as we see more older and ailing people.[/quote]What you’re seeing today is only the beginning. A lot of the commercial land around 3Roots will get rezone to allow for even more. https://www.sandiego.gov/sites/default/files/02_18_2021_draft_land_use_scenarios_final.pdf

[an]

[quote=Coronita]UCSD when I was looking to apply to college was easy to get in decades ago. That isn’t the case anymore. If you have a kid that got into UCSD recently and you live in San Diego. Congrats….That itself was a difficult task.

SDSU is not a joke anymore either. Lots of really good programs out there.

My prediction is Cal State San Marcos is going to get a lot better. My money is San Marcos RE is going to do really well.

I would love it if my kid would be able to get into UCSD.[/quote]
SDSU is expanding to Mission Valley and UCSD is expanding downtown. Not only are they getting harder to get in and their academics is getting more and more competitive, they’re also growing physically by leaps and bounds.

Then there’s CSU San Marcos. I agree that it’ll get a lot better and more competitive, they’ll also have a lot of physical room to expand. San Diego as a region is changing. It’s no longer a sleepy beach town like it was 50 years ago.

[an]

[quote=sdrealtor][quote=XBoxBoy][quote=deadzone]Long term, it will take strong growth in high paying industry to keep prices high here.[/quote]

Don’t count this possibility out. Suppose for a second that your are correct that work from home is a temporary thing. People who have moved here and then are told they have to report back to an office in LA or Silicon Valley. What do they do? You seem to assume they move back. I on the other hand assume they quit and start their own companies here in SD. Some of these companies will fail, but some will succeed. We could have the next Google, or Facebook, or Apple, here in SD. There is no reason those types of companies have to be in Silicon Valley.[/quote]

Exactly. Or two kids in a dorm at UCSD come up with the next tech unicorn. There are so many possible paths to this happening here. Not just one

And skateboarding is blowing up worldwide. The epicenter of talent and industry is right here in Encinitas. One more log on the fire[/quote]
UCSD is drastically different today than it was 20 years ago much less 40-50 years ago when it was founded. Same goes for SDSU. Biotech is huge here and San Diego is one of the top locations in the nation for that industry. Bioengineering at UCSD is one of the top programs in the nation. UCSD’s other engineering disciplines are top notched as well. So, I wouldn’t count out what you’re saying as a possibility.

[an]

[quote=deadzone]yes perhaps due to the pandemic and (temporary for most) work from home situation it may have motivated some folks who always wanted to move to SD to accelerate their plans. But I also expect this to be a temporary trend like any other pandemic related change.
Long term, it will take strong growth in high paying industry to keep prices high here. Cost of living is still major negative for people choosing to relocate to SD for remote work. Unless you are coming from Bay area or a select few other cities SD prices are problematic.[/quote]
You’re assuming that it’s temporary. Does that mean you expect one of the following to happen, since there are currently a lot of companies that are hiring remote workers:
1) the company will open office here
2) the company will make remote employee move

If the employee don’t want to move, then the company will fire them all and try to fill those position and retrain those new employees?

[an]

[quote=sdrealtor][quote=deadzone]Maybe, only time will tell. But you are assuming the remote work option becomes permanent for a large portion of the population. And further that they will decide to move to San Diego when in theory they could live anywhere in the world, including many nice places with much lower cost of living.[/quote]

Cheaper isn’t necessarily better. Some value cheaper, some value better[/quote]
There’s a saying that I love… you get what you paid for.

[an]

[quote=Coronita]ditto. I think his intentions are good, but I don’t agree with everything he says. This is one of them I agree with.

The interesting part that I’m finding out as I talk to some companies these days. The question I get is “what is your experience with managing a remote team, and are you ok with this if this is a permanent arrangement….”

Other companies have the neutral stance “we don’t know what the company will finally decide, but when it’s decided we expect all management team members to tow the company line”…..

It’s very interesting how companies are trying to tackle this problem…Some have seemed to embraced the idea that this change is permanent and they want people with this mindset. Others are basically saying, we don’t know but we expect you to go along with the final decision.[/quote]
For the companies that ask people to tow the company line before they join but won’t give them the company line to tow, they’ll get a “yes, of course”. But when the company line get solidify, if it doesn’t match up w/ the employee’s expectation, they’ll leave if they can.

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