[davelj]

[quote=CONCHO][quote=davelj]I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.[/quote]

Nice places – I was looking on craigslist and I’d guess you could rent that for $600-750/mo pretty easily. Not a bad return if the price is actually just $100K. Something like that in Encinitas would be 8 times the price.

It would be interesting to see a historical comparison of property prices on both sides of the border. Things are rough in TJ these days, but is that going to last forever?[/quote]

I would say that the coastal strip between Playas and Puerto Nuevo got even more overbuilt than anywhere in California – it’s probably more comparable to Phoenix or Las Vegas in that regard. There are a few projects still under construction, but there are also several that got stopped mid-build. If you drive down the carretera you’ll see several large condo projects that got stopped mid-stream and nothing’s been done to the structure in a couple of years – they’re just empty shells. The only good news is that most folks who bought down there either paid all cash or put at least 30% down (and most of the condos aren’t that expensive relative to CA prices). And the builders weren’t as leveraged as they are here either. So while there are a TON of units for sale there haven’t been many actual foreclosures. But, it’s ugly.

One of the problems is there’s no really reliable MLS data down there. I don’t think there will be meaningful building in that neck of the woods for at least five years… and maybe longer.

My rule of thumb is simple: If you’re going to buy a new-ish condo or townhome down there, don’t pay more than $120/sq ft.

And you better plan on using it a lot and/or having a tax angle, otherwise you’re going to have buyer’s remorse. Just my 2 cents.

[davelj]

[quote=CONCHO][quote=davelj]I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.[/quote]

Nice places – I was looking on craigslist and I’d guess you could rent that for $600-750/mo pretty easily. Not a bad return if the price is actually just $100K. Something like that in Encinitas would be 8 times the price.

It would be interesting to see a historical comparison of property prices on both sides of the border. Things are rough in TJ these days, but is that going to last forever?[/quote]

I would say that the coastal strip between Playas and Puerto Nuevo got even more overbuilt than anywhere in California – it’s probably more comparable to Phoenix or Las Vegas in that regard. There are a few projects still under construction, but there are also several that got stopped mid-build. If you drive down the carretera you’ll see several large condo projects that got stopped mid-stream and nothing’s been done to the structure in a couple of years – they’re just empty shells. The only good news is that most folks who bought down there either paid all cash or put at least 30% down (and most of the condos aren’t that expensive relative to CA prices). And the builders weren’t as leveraged as they are here either. So while there are a TON of units for sale there haven’t been many actual foreclosures. But, it’s ugly.

One of the problems is there’s no really reliable MLS data down there. I don’t think there will be meaningful building in that neck of the woods for at least five years… and maybe longer.

My rule of thumb is simple: If you’re going to buy a new-ish condo or townhome down there, don’t pay more than $120/sq ft.

And you better plan on using it a lot and/or having a tax angle, otherwise you’re going to have buyer’s remorse. Just my 2 cents.

[davelj]

[quote=CONCHO][quote=davelj]I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.[/quote]

Nice places – I was looking on craigslist and I’d guess you could rent that for $600-750/mo pretty easily. Not a bad return if the price is actually just $100K. Something like that in Encinitas would be 8 times the price.

It would be interesting to see a historical comparison of property prices on both sides of the border. Things are rough in TJ these days, but is that going to last forever?[/quote]

I would say that the coastal strip between Playas and Puerto Nuevo got even more overbuilt than anywhere in California – it’s probably more comparable to Phoenix or Las Vegas in that regard. There are a few projects still under construction, but there are also several that got stopped mid-build. If you drive down the carretera you’ll see several large condo projects that got stopped mid-stream and nothing’s been done to the structure in a couple of years – they’re just empty shells. The only good news is that most folks who bought down there either paid all cash or put at least 30% down (and most of the condos aren’t that expensive relative to CA prices). And the builders weren’t as leveraged as they are here either. So while there are a TON of units for sale there haven’t been many actual foreclosures. But, it’s ugly.

One of the problems is there’s no really reliable MLS data down there. I don’t think there will be meaningful building in that neck of the woods for at least five years… and maybe longer.

My rule of thumb is simple: If you’re going to buy a new-ish condo or townhome down there, don’t pay more than $120/sq ft.

And you better plan on using it a lot and/or having a tax angle, otherwise you’re going to have buyer’s remorse. Just my 2 cents.

[davelj]

[quote=CONCHO][quote=davelj]I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.[/quote]

Nice places – I was looking on craigslist and I’d guess you could rent that for $600-750/mo pretty easily. Not a bad return if the price is actually just $100K. Something like that in Encinitas would be 8 times the price.

It would be interesting to see a historical comparison of property prices on both sides of the border. Things are rough in TJ these days, but is that going to last forever?[/quote]

I would say that the coastal strip between Playas and Puerto Nuevo got even more overbuilt than anywhere in California – it’s probably more comparable to Phoenix or Las Vegas in that regard. There are a few projects still under construction, but there are also several that got stopped mid-build. If you drive down the carretera you’ll see several large condo projects that got stopped mid-stream and nothing’s been done to the structure in a couple of years – they’re just empty shells. The only good news is that most folks who bought down there either paid all cash or put at least 30% down (and most of the condos aren’t that expensive relative to CA prices). And the builders weren’t as leveraged as they are here either. So while there are a TON of units for sale there haven’t been many actual foreclosures. But, it’s ugly.

One of the problems is there’s no really reliable MLS data down there. I don’t think there will be meaningful building in that neck of the woods for at least five years… and maybe longer.

My rule of thumb is simple: If you’re going to buy a new-ish condo or townhome down there, don’t pay more than $120/sq ft.

And you better plan on using it a lot and/or having a tax angle, otherwise you’re going to have buyer’s remorse. Just my 2 cents.

[davelj]

I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.

If I didn’t need to have a secondary home base close to the border (San Diego – for ease of travel/work issues), I’d seriously consider living in La Paz (Baja Sur). Very safe, great weather and beaches, decent-size city and very inexpensive.

[davelj]

I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.

If I didn’t need to have a secondary home base close to the border (San Diego – for ease of travel/work issues), I’d seriously consider living in La Paz (Baja Sur). Very safe, great weather and beaches, decent-size city and very inexpensive.

[davelj]

I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.

If I didn’t need to have a secondary home base close to the border (San Diego – for ease of travel/work issues), I’d seriously consider living in La Paz (Baja Sur). Very safe, great weather and beaches, decent-size city and very inexpensive.

[davelj]

I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.

If I didn’t need to have a secondary home base close to the border (San Diego – for ease of travel/work issues), I’d seriously consider living in La Paz (Baja Sur). Very safe, great weather and beaches, decent-size city and very inexpensive.

[davelj]

I’m pretty set on buying a place in Playas (the beach area of Tijuana) in the next two years – probably in Puesta del Sol. I don’t spend enough time in San Diego to justify paying California taxes anymore, but I’ll keep my condos here.

If I didn’t need to have a secondary home base close to the border (San Diego – for ease of travel/work issues), I’d seriously consider living in La Paz (Baja Sur). Very safe, great weather and beaches, decent-size city and very inexpensive.

[davelj]

[quote=CA renter]
No way anyone can convince me that trading securities is more risky that police work or firefighting. And, per your link, salespeople in the financial and securities industry are higher on the “contentment” scale than cops are (firefighters are higher).[/quote]

Not at all what I was implying (and you know this). My point was merely that (a) jobs aren’t priced according to physical risk, and (b) some people simply like doing these purportedly (although perhaps not overly in a relative context) risky jobs – they actually enjoy them. Different strokes for different folks.

[quote=CA renter]
I suppose, at the end of the day, we have to ask ourselves if the risks taken by traders and speculators is worth more than the risks taken by public safety personnel. The answer to that is subjective, and depends on where you stand, logically and philosophically.[/quote]

Exactly – it’s all subjective. (And because it’s subjective, “logic” has little to do with it – it’s mostly philosophical.) I assume that you’re not in favor of a Randian Council of Vocations that chooses work for people, so while the market may not do a perfect job of allocating professions, it appears to do a much better job than the alternatives. Such are the imperfections of quasi-liberty.

[davelj]

[quote=CA renter]
No way anyone can convince me that trading securities is more risky that police work or firefighting. And, per your link, salespeople in the financial and securities industry are higher on the “contentment” scale than cops are (firefighters are higher).[/quote]

Not at all what I was implying (and you know this). My point was merely that (a) jobs aren’t priced according to physical risk, and (b) some people simply like doing these purportedly (although perhaps not overly in a relative context) risky jobs – they actually enjoy them. Different strokes for different folks.

[quote=CA renter]
I suppose, at the end of the day, we have to ask ourselves if the risks taken by traders and speculators is worth more than the risks taken by public safety personnel. The answer to that is subjective, and depends on where you stand, logically and philosophically.[/quote]

Exactly – it’s all subjective. (And because it’s subjective, “logic” has little to do with it – it’s mostly philosophical.) I assume that you’re not in favor of a Randian Council of Vocations that chooses work for people, so while the market may not do a perfect job of allocating professions, it appears to do a much better job than the alternatives. Such are the imperfections of quasi-liberty.

[davelj]

[quote=CA renter]
No way anyone can convince me that trading securities is more risky that police work or firefighting. And, per your link, salespeople in the financial and securities industry are higher on the “contentment” scale than cops are (firefighters are higher).[/quote]

Not at all what I was implying (and you know this). My point was merely that (a) jobs aren’t priced according to physical risk, and (b) some people simply like doing these purportedly (although perhaps not overly in a relative context) risky jobs – they actually enjoy them. Different strokes for different folks.

[quote=CA renter]
I suppose, at the end of the day, we have to ask ourselves if the risks taken by traders and speculators is worth more than the risks taken by public safety personnel. The answer to that is subjective, and depends on where you stand, logically and philosophically.[/quote]

Exactly – it’s all subjective. (And because it’s subjective, “logic” has little to do with it – it’s mostly philosophical.) I assume that you’re not in favor of a Randian Council of Vocations that chooses work for people, so while the market may not do a perfect job of allocating professions, it appears to do a much better job than the alternatives. Such are the imperfections of quasi-liberty.

[davelj]

[quote=CA renter]
No way anyone can convince me that trading securities is more risky that police work or firefighting. And, per your link, salespeople in the financial and securities industry are higher on the “contentment” scale than cops are (firefighters are higher).[/quote]

Not at all what I was implying (and you know this). My point was merely that (a) jobs aren’t priced according to physical risk, and (b) some people simply like doing these purportedly (although perhaps not overly in a relative context) risky jobs – they actually enjoy them. Different strokes for different folks.

[quote=CA renter]
I suppose, at the end of the day, we have to ask ourselves if the risks taken by traders and speculators is worth more than the risks taken by public safety personnel. The answer to that is subjective, and depends on where you stand, logically and philosophically.[/quote]

Exactly – it’s all subjective. (And because it’s subjective, “logic” has little to do with it – it’s mostly philosophical.) I assume that you’re not in favor of a Randian Council of Vocations that chooses work for people, so while the market may not do a perfect job of allocating professions, it appears to do a much better job than the alternatives. Such are the imperfections of quasi-liberty.

[davelj]

[quote=CA renter]
No way anyone can convince me that trading securities is more risky that police work or firefighting. And, per your link, salespeople in the financial and securities industry are higher on the “contentment” scale than cops are (firefighters are higher).[/quote]

Not at all what I was implying (and you know this). My point was merely that (a) jobs aren’t priced according to physical risk, and (b) some people simply like doing these purportedly (although perhaps not overly in a relative context) risky jobs – they actually enjoy them. Different strokes for different folks.

[quote=CA renter]
I suppose, at the end of the day, we have to ask ourselves if the risks taken by traders and speculators is worth more than the risks taken by public safety personnel. The answer to that is subjective, and depends on where you stand, logically and philosophically.[/quote]

Exactly – it’s all subjective. (And because it’s subjective, “logic” has little to do with it – it’s mostly philosophical.) I assume that you’re not in favor of a Randian Council of Vocations that chooses work for people, so while the market may not do a perfect job of allocating professions, it appears to do a much better job than the alternatives. Such are the imperfections of quasi-liberty.

[davelj]

[quote=CA renter]Yes, we definitely disagree on this.

While *some* private sector employees (investors?) take risks, public sector employees take even greater risks, especially those in public safety.[/quote]

This has been thoroughly debunked. Even the more purportedly dangerous jobs like police and firefighters have on-the-job mortality rates that are pretty far down the scale relative to plenty of other occupations. And, job contentment among this group is also pretty high.

http://www.livescience.com/1431-survey-reveals-satisfying-jobs.html

[quote=CA renter]
I do not suscribe to the theory that “financial risks” (a.k.a. gambling) entitle someone to reap greater rewards than someone who provides a good or performs a service that is more beneficial to society.

This is definitely where we disagree.[/quote]

The problem is that defining “financial risks” is very difficult. For example, the proprietary trader is taking different risks from the stock broker who is taking different risks than the real estate agent who is taking different risks than the investor providing capital to a company, etc. Generalizing about the actual “value added” by the various members of the financial services industry is tough, although I’ll agree that in aggregate they (we) are overpaid. But parsing it all out and figuring out who should get what ain’t easy. I’m confident that you’ll live your life quite disappointed with the results.

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