[an]

[quote=svelte]It looks as though SD Union and SD Tribune have taken their newspaper archives off of the normal archive sites and are hawking them on their own site at very high prices that I’m not willing to pay. If/when they make the prices reasonable, I’ll search the archives.

In the meantime, here is what I’ve found:

1986:
$99K – 10576 Giffin Way, San Diego, CA 92126, 1378 SF
$114K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF

$119K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF
$119K – 10544 Bandell Ct, San Diego, CA 92126, 1366 SF

1988:
$129K – 10546 Darwell Ct, San Diego, CA 92126, 1008 SF
$129K – 10546 Darwell Ct, San Diego, CA 92126 1008 SF
$141K – 10526 Darwell Ct, San Diego, CA 92126 1500 SF

1997:
$160K – 10583 Giffin Way, San Diego, CA 92126 1284 SF

1999:
$145K – 7672 Adkins Way, San Diego, CA 92126 1008 SF

I would imagine what happened is that in 1987, we walked into a model and they had some unit that wasn’t selling that they were offering for $100-105K. That isn’t unreasonable given the $99K sales price above in 1986. It is right in line.

The $160K sales price you show for 1988 sounds really high actually.

Let’s go back to why I made the statement I made originally: you had said that houses went up 10x in the 1970s. If MM houses were selling for $120K in 1986, what you must be saying is houses were selling for $12K in 1970 and went up zero between 1980 and 1986. Neither of which is believable.[/quote]Model match base on what you posted was 10576 Giffin Way and 10526 Darwell Ct. So, 99k to $141k. So, we’re looking at $40k appreciation in 2 years or ~40%.

The $160k is not high because that development is much better. A 1500 sq-ft 3/2 house is much better than a 1200 sq-ft 3/2 or a 1300 sq-ft 4/2. Different development.

As for my original statement of 10X, already conceded that 10x was an over estimation. Small 4/2 in MM were going for ~$40k and not $16k in the mid 70s, so it’s ~4x and not 10X. But, you were pointing out that stocks were crashing in the 70s, insinuating that housing did too. So, although it did not increase 10x, it did increase 4x. If you only count the gain from the down payment, for a $40k house with 20% down, you’d down $8k. 10 years later, the same house is $120-160k, then you’d gain ~10x-15x on your $8k down payment.

[an]

[quote=Coronita][quote=an][quote=scaredyclassic]Holding on to anything for 30 years, a house, a marriage, ones sanity, is easier fantasized about than done.

30 years, and you are basically a different human[/quote]
Life’s not easy[/quote]

my parents still have a house since 1979[/quote]
Mine still have their from 1987.

[an]

[quote=sdrealtor]Prices may have been all floor plans. Wasn’t there a 2/2 1008 model pardee built[/quote]
Yep, Pardee has a 2/2 1008 sq-ft SFR in MM. In those developments (specifically the ones west of Camino Ruiz), the floorplan options are 2/2 1008 sq-ft, 3/2 1134 sq-ft, 3/2 1284 sq-ft, and 4/2 1366 sq-ft.

[an]

[quote=svelte][quote=an][quote=svelte]

Where did you get that 7528 sold in 1988 for $160K?[/quote]
You can see any house sales history in Redfin: https://www.redfin.com/CA/San-Diego/7528-Flanders-Dr-92126/home/4591280. You gave me the spec of the house and I know exactly which area of MM was built new around that time, so it helps me narrow down to the house to search.[/quote]

I think the house we saw was on Dabney.

Not this exact one, but here is an example of a 1600 SF selling for 119K in 1985.

If anything, I’m probably wrong on the SF…it could be they started at 100K for less SF and went up a bit for 1500SF. That probably explains the discrepancy.

In any case, I remember the road intersecting MM Blvd, the house being on the west side of the street, and it being a model home. Of course its been 34 years so I could be slightly off. But not much.

[img_assist|nid=27367|title=1985 sale for 119K|desc=|link=node|align=left|width=466|height=157][/quote]
This development started in 1981 and ended around 1985, so when you say 1987, I ruled out this development. As you can see, a very similar house in a different development started 2-3 years later sold for over $40k more. My parents bought a house a couple blocks away from the house above in 1987 4/2 1366 sq-ft for $169k.

[an]

[quote=scaredyclassic]Holding on to anything for 30 years, a house, a marriage, ones sanity, is easier fantasized about than done.

30 years, and you are basically a different human[/quote]
Life’s not easy

[an]

[quote=svelte][quote=an] [quote=an]
These are the only one that’s new around 1987 that’s 3/2 1500 sqft South of MM. 7528 Flanders Dr, San Diego, CA 92126. This one sold for 160k in 1988. So your dad was getting a crazy deal.[/quote]So svelte, did your dad end up buying the screaming deal of a house in MM in the late 80s for $100-105k? Or was it you who were looking to buy? I think that house is probably going for ~$900k today. 9X after ~35 years isn’t too shabby. Wonder if we’ll see another 9x in the next 35 years.

Rewind the clock another 12 years and a similar house was going for ~$40k. So, we’re looking at ~22X return after ~50 years. Wonder if we’ll see ~22x return in the next 50 years. Just for shit and giggles, 22x today price would be $19.8m

[/quote]

My Dad didn’t buy in that year as he lived in northern California, he was visiting me as I was living on Gold Coast Drive at the time. I was wanting to buy so I showed him the “crazy” prices down here. I distinctly remember the price as $100-105K, maybe I have the square footage wrong. I’ll look at old newspapers this weekend if I get a chance as I’m sure there will be an ad – as long as 1987 newspapers are online now.

Where did you get that 7528 sold in 1988 for $160K?[/quote]
You can see any house sales history in Redfin: https://www.redfin.com/CA/San-Diego/7528-Flanders-Dr-92126/home/4591280. You gave me the spec of the house and I know exactly which area of MM was built new around that time, so it helps me narrow down to the house to search.

[an]

[quote=an][quote=svelte][quote=an][quote=svelte]
Totally bogus claim.[/quote]what development in Mira Mesa in 1987 was going for 100-105k for a 3/2 1500 sqft house?[/quote]

I can’t recall the name and I didn’t save any brochures. All I can tell you is that it was south of MM Blvd and west of Westonhill. I can’t remember any more than that.[/quote]
These are the only one that’s new around 1987 that’s 3/2 1500 sqft South of MM. 7528 Flanders Dr, San Diego, CA 92126. This one sold for 160k in 1988. So your dad was getting a crazy deal.[/quote]So svelte, did your dad end up buying the screaming deal of a house in MM in the late 80s for $100-105k? Or was it you who were looking to buy? I think that house is probably going for ~$900k today. 9X after ~35 years isn’t too shabby. Wonder if we’ll see another 9x in the next 35 years.

Rewind the clock another 12 years and a similar house was going for ~$40k. So, we’re looking at ~22X return after ~50 years. Wonder if we’ll see ~22x return in the next 50 years. Just for shit and giggles, 22x today price would be $19.8m

[an]

And just like that, the median just increased to $875k a few hours after you posted this!

[an]

[quote=Coronita][quote=EconProf]Thanks Flyer, and you are quite right that the move was prompted less by financial motives than other factors.
Commentators on the left and the right agree that the nation is dividing into two geographic directions, or what could be called factions. The big cities, especially coastal ones versus the inland ones, the latter perhaps including the ex-urban parts of all cities.
Given current trends, I want to be part of the inland, more rural part. The culture, politics, and friendliness of the people are entirely different. We will never buy motels to house the homeless and addicted or free repeat-criminals from our jails or teach school children to be race-conscious. We won’t close our schools unnecessarily. Our taxes and fiscal future will stay healthy, crime rates will stay low, and education levels high. Our influx of escaping “refugees” from the woke cities will continue.
As a long-ago liberal–it’s hard to be a college teacher and not be liberal–my entry into the private sector via real estate investing and being a contractor in the inner city gave me a rude awakening.
Of course much of this change is due to simply getting old. As Winston Churchill said, paraphrasing, “To be young and not liberal is to have no heart. To be old and not conservative is to have no head.”[/quote]

Why do people after a certain age roughly past 60+ feel so compelled to be so hateful? I mean, is there some sort of thing that once you get past 60, something happens in the brain chemistry that people just tend to process bitterness/anger more readily than things positive?

I see this in some of my own relatives. It’s like there’s a mental short circuit or something, and higher brain function starts to process negativity/bitter/hate often times choosing to process false negativity rather than truth positives.

I say this because I have a relative that watches fox news and cnn news. And while both news tend to lie and distort on different issues, fox news tends to do so by negative lies….cnn tends to lie on false positive lies… But the lies that I see being processed and believed are the falsehoods on Fox News, the hate rhetoric…I got this relative that actually believes 5G can cause covid because he read it on one of the alt-right “news outlets”… This is a guy who studied applied and engineering physics in college….

I don’t get it.[/quote]
I would say the positive vs negative will depend on which side is in the white house. Every time I turn on CNN during Trump, I would get an impression that the sky is falling and now, it’s Fox’s turn.

[an]

[quote=Coronita]
well considering i put in an offer for another rental property yesterday….if i get it, there’s a high likelihood that will cause prices to fall, just like interest rates were kind enough to rise the week that i locked at 3% and once i was funded , was kind enough to fall back below 3% lol….Murphy law of my investments for me i guess.

normally i dont like to talk about pending transactions since i dont normally want to jinx them before they materialize. but honestly, in this case , if things fall apart, dont really care that much…im basically coughing up almost $100k more this time on this property slightly nicer than the previous one. hopefully will rent $3k/month or more. its pricey for $3k/month…but i dont trust my stock picking skills to return something decent over the next 15-20 years, and i need to force myself to take some money off the stock market roulette table in case there is a major correction and avoid doing something more stupid if i just see cash lying around earning 0.02% interest….

If i do get this place, my total net rental cashflow will be close enough a mid level sw engineer’s salary. and finally i can stop working if i choose. And then im going to have a bug grin on my face the next time i talk to my boss on Zoom…heh heh….

It only took ,oh god , a quarter of a century to get here…i cant believe ive been doing this for 25 years. im about 5 years behind my original financial plans i made in my early 30ies…so many detours and roadblocks….but i had to stick to the plan…[/quote]
Very happy for you. That is my plan as well. I’m just a few years being you. Hopefully I can get to your level some day.

[an]

[quote=sdrealtor]We made our own lottery tickets Coronita! They may have smaller payoffs but they also have a continuing income stream for life that grows with inflation and comes with tax advantages:)[/quote]
This is why I’m hoping for another big crash so I can buy a few more. Want in the position to take full advantage of the crash on 2008.

[an]

[quote=svelte][quote=Coronita]The red herring for me has always been the stock option/stock grant….WRTO stock options/stock, I was always at the right place.. Just at the wrong time…[/quote]

That appears to be where you and I parted philosophies.

I wanted to be paid in full with a paycheck as I did the work. If they said I would get stock options as a part of my compensation, I said no thanks unless my pay was going to be market value.

I wanted a sure thing, not a lottery ticket. I guess that guaranteed that I wasn’t going to get filthy rich, but it also guaranteed I wasn’t going to provide my skills for less than they were worth.[/quote]
Different stroke for different folks. I’m in Coronita camp. There are tax benefits under certain salary point for certain situation that allow me to net more when I was making less. Which allow me to take the risk with option while still have a high enough take home pay to not feel like I’m being taken advantage of.

[an]

[quote=barnaby33]

I’m definitely seeing huge salary inflation for software engineers.

Where? I’m seeing big demand increases. Salary increases almost not at all.
Josh[/quote]
All the candidates I’m interviewing. I see their expected salary. Also, head of recruitment does a yearly salary market evaluation, and she kept a very close tab on that. She’s confirming that the market is in line w/ what the candidates are asking for.

[an]

[quote=sdrealtor]I was referring to inflation everywhere but I remember you documenting years ago home prices don’t always follow rates. Have you changed your mind on that? Inflation also means wage inflation. We have and will continue seeing that. Rates look to be low for a long time to come. Maybe not this low but still very low historically.[/quote]
I’m definitely seeing huge salary inflation for software engineers.

[an]

[quote=svelte][quote=Coronita][quote=scaredyclassic]
I’d be curious if Americans are taking lots of $ out for consumption.[/quote]

Well,I do see a lot of people driving newer cool cars!!![/quote]

they are going to need that cash to pay for those expensive electric vehicles!

Have you seen the inside of the Mercedes EQS? Oh my!

Watch out Elon, your updated Model S is no match…[/quote]
Love the EQS. It makes the Model S look like a Chevy. E-tron and Taycan are gorgeous too, but EQS definitely take the cake in term of interior.

[Author]

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