Forum Replies Created
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EJ
ParticipantI guess I misinterpreted the statement:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
It sounds like individuals … I agree a greater percentage of households in this age range will have incomes > $100k
About 30% of all households make more than 100k in SD county.
http://factfinder.census.gov/About 20% of population is 20-30.
http://www.qolsandiego.net/PDF/table_SDCo_demograph.pdfSo assuming that 20-30 are at average incomes this means 6% of population is in that age range and making more than $100k. This is erring in benefit of your point … peak earning years are not until your 50’s.
There are several problems with assuming that this 6% has been saving and is ready to buy. What percent of this age group is married and wanting to buy? Overall, 50% of SD is married, I couldn’t find any marriage data by age but I would guess the percentage is much lower for 20-30 year olds (go to PB on the weekend). Anyhoo, assume 50% for lack of better data, now the contribution of HH in this age/income bracket who would be interested in buying is about 3% of the population.
Now the question is, how many of these people want to pay 300k for a small 2 bedroom apartment in UTC? Even with the conservative assumptions stated, I still don’t see much demand coming from that age group.
ParticipantI guess I misinterpreted the statement:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
It sounds like individuals … I agree a greater percentage of households in this age range will have incomes > $100k
About 30% of all households make more than 100k in SD county.
http://factfinder.census.gov/About 20% of population is 20-30.
http://www.qolsandiego.net/PDF/table_SDCo_demograph.pdfSo assuming that 20-30 are at average incomes this means 6% of population is in that age range and making more than $100k. This is erring in benefit of your point … peak earning years are not until your 50’s.
There are several problems with assuming that this 6% has been saving and is ready to buy. What percent of this age group is married and wanting to buy? Overall, 50% of SD is married, I couldn’t find any marriage data by age but I would guess the percentage is much lower for 20-30 year olds (go to PB on the weekend). Anyhoo, assume 50% for lack of better data, now the contribution of HH in this age/income bracket who would be interested in buying is about 3% of the population.
Now the question is, how many of these people want to pay 300k for a small 2 bedroom apartment in UTC? Even with the conservative assumptions stated, I still don’t see much demand coming from that age group.
ParticipantI guess I misinterpreted the statement:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
It sounds like individuals … I agree a greater percentage of households in this age range will have incomes > $100k
About 30% of all households make more than 100k in SD county.
http://factfinder.census.gov/About 20% of population is 20-30.
http://www.qolsandiego.net/PDF/table_SDCo_demograph.pdfSo assuming that 20-30 are at average incomes this means 6% of population is in that age range and making more than $100k. This is erring in benefit of your point … peak earning years are not until your 50’s.
There are several problems with assuming that this 6% has been saving and is ready to buy. What percent of this age group is married and wanting to buy? Overall, 50% of SD is married, I couldn’t find any marriage data by age but I would guess the percentage is much lower for 20-30 year olds (go to PB on the weekend). Anyhoo, assume 50% for lack of better data, now the contribution of HH in this age/income bracket who would be interested in buying is about 3% of the population.
Now the question is, how many of these people want to pay 300k for a small 2 bedroom apartment in UTC? Even with the conservative assumptions stated, I still don’t see much demand coming from that age group.
ParticipantI think I found the poor assumption about pent up demand:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
I don’t have any data to back it up but I believe the number of 20-30 year olds in SD (or anywhere) with an income > $100k is pretty small. I would guess less than one percent of people in that age bracket.
ParticipantI think I found the poor assumption about pent up demand:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
I don’t have any data to back it up but I believe the number of 20-30 year olds in SD (or anywhere) with an income > $100k is pretty small. I would guess less than one percent of people in that age bracket.
ParticipantI think I found the poor assumption about pent up demand:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
I don’t have any data to back it up but I believe the number of 20-30 year olds in SD (or anywhere) with an income > $100k is pretty small. I would guess less than one percent of people in that age bracket.
ParticipantI think I found the poor assumption about pent up demand:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
I don’t have any data to back it up but I believe the number of 20-30 year olds in SD (or anywhere) with an income > $100k is pretty small. I would guess less than one percent of people in that age bracket.
ParticipantI think I found the poor assumption about pent up demand:
“a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years”
I don’t have any data to back it up but I believe the number of 20-30 year olds in SD (or anywhere) with an income > $100k is pretty small. I would guess less than one percent of people in that age bracket.
ParticipantI think it is a typo … an extra zero at the end.
If you remove the zero, then the price divided by the square footage is approximately equal to the ppsf that is listed.
ParticipantI think it is a typo … an extra zero at the end.
If you remove the zero, then the price divided by the square footage is approximately equal to the ppsf that is listed.
ParticipantI think it is a typo … an extra zero at the end.
If you remove the zero, then the price divided by the square footage is approximately equal to the ppsf that is listed.
ParticipantI think it is a typo … an extra zero at the end.
If you remove the zero, then the price divided by the square footage is approximately equal to the ppsf that is listed.
ParticipantI think it is a typo … an extra zero at the end.
If you remove the zero, then the price divided by the square footage is approximately equal to the ppsf that is listed.
ParticipantDon’t forget the ultimate sacrifice of trading in your hard earned corvette for a suburban, and this is along with having to do you own lawn care and (take a deep breath) eating leftovers (gasp!!!).
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