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We’ve continued to add multi-family units to our portfolio over the years, and they have always done well. As fewer people are able to afford sfh’s going forward, it looks like the market will continue to explode per:

“Over the next decade multi-family units could be the best investment of your lifetime. They are not building enough multi-family apartment buildings to keep up with demand. On average, 770,000 new rental households have emerged each year since 2004, according to a 2015 article in The New York Times.”

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Mentioned this thread to my wife, and, although she admitted she, and most women she knows prefer men who are not overweight, along with certain other physical attributes (tall, dark; tall, blonde, tan, muscular, fit, etc. and a few other traits I can’t mention because they are not pc) she also mentioned a survey she agrees with citing traits like being romantic, faithful, dependable, confident, successful, a good listener, intelligent, having a sense of humor, being a good Dad,etc. as equally important.

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One possible reason some feel as they do:

http://www.goodtherapy.org/blog/psychpedia/schadenfreude

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Good info,flu. Thanks.

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Thanks flu. I’m sure you have waiting lists, as we do, especially for our sfh’s, but since several of their employees rent from us, we still like to try to stay aware of what’s going on in the local job market.

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Perhaps, more a combination of the two, per this article:

http://www.lao.ca.gov/reports/2015/finance/housing-costs/housing-costs.aspx

Either way, I’m going to guess if employment and population growth continue as previously discussed, when desirable locations in San Diego County and elsewhere in CA are built out, most likely, the net will continue to be higher prices going forward, and, per the OP’s theme of this thread, some will find it no problem to stay, while others may find it more financially prudent to leave.

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My kids, who are millennials feel pretty much the same, flu–the sky’s the limit–but they’re still glad they got into real estate before prices in desirable areas went off the charts.

Properties that once cost thousands are now in the millions, but, as we all know, that’s just the way supply and demand work, and, hopefully future generations realize that.

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Judging from the comments here, and the waiting lists we have for all of our rentals–especially the sfh’s–I’m guessing the Trulia charts are probably off.

Good news for all of us who already own properties, not so good for younger people looking to buy now and in the future, because once the land is gone–it’s gone.

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“San Diego County gained an estimated 11,600 residents through foreign migration but lost about 8,700 people due to “domestic migration” — individuals who relocated to other parts of the country — resulting in a net positive migration of about 3,000 people, according to the finance department.”

The Trulia article I posted may not have reflected the net mentioned above, but it’s still very interesting that we lost 8,700 people due to “domestic migration,” with a net of only 3K out of 11,600, and that’s just in San Diego.

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Regarding the re binge topic, this article gives an interesting perspective. With only about about 16.5% of households in San Diego (with comparably low percentages in other major cities) earning more than $150K, no wonder people are moving.

Also interesting to note that the highest out migration from the most desirable cities is in the 18-54 age group across all income levels.

https://www.trulia.com/blog/trends/priced-out-migration/

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Thanks, flu. My wife is the stock guru in the family and as far as tech goes, she has been into GOOGL and AAPL for years (starting when it was like.90/share, or something crazy like that around ’96) but she didn’t know much about the NXP acquisition. I was curious about how it might affect our local economy, and your explanation was very helpful.

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From an investors perspective, just wondering if anyone knows how Qualcomm’s acquisition of NXP may bode for the company, and how it might affect jobs and housing in San Diego? Thoughts?

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Good point, Rich. Should have qualified my comment.

That mantra seems to have worked out well for those of us who purchased and held primary and investment properties for the past 20+ years, as well as those we purchased during the Great Recession, especially with the great rental market, but it’s definitely a different story wrt the time period you mentioned.

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Exactly, flu. Who knows what the future will bring, but we’ve continued to hold our properties over many economic cycles, and administrations, as most everyone we know has, and have still been able to take advantage of the other financial trends of the moment.

“Always buy, never sell” seems to have proven to be a good plan for many when it comes to real estate–especially in CA.

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Granted, it is more difficult to get into investment properties today than when we did, but we were not competing with buyers who are now here due to explosive business growth and jobs or foreign buyers.

These factors make it a far more competitive market today, which will, most likely continue, going forward.

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