[flyer]

We have lots of family in Northern CA, and I’d say the prices up there are somewhat higher in comparable locations.

If you’d like to make some comparisons for yourself, check out sdlookup.com, and enter the various zip codes of interest–Del Mar, 92014, Carmel Valley, 92130, Point Loma, 92106, Sunset Cliffs, 92107, West RB, (Santaluz, Crosby, 4S, etc.) 92127, RSF, 92067 etc. etc.

We also have family or own property in these zip codes, and this is a fast way to make some good comparisons, providing you have the comps for the bay area. This will also give you some idea of what the inventory looks like.

[flyer]

I really hope all of the “optimists” are correct about the future, and that younger generations can enjoy the same great lives as many of we “Boomers” have.

As UCGal said, “I hope it all works out for them,” and, my
favorite–“Only time will tell.”

Regardless of who is right or wrong, IMO, the bottom line is that you either cut it financially for the duration of your life, or you don’t, and there is no hoping or wishing about it.

[flyer]

As always–interesting responses. That’s why I enjoy reading and posting on this board!

Whether the concept of retirement is “propaganda,” “hype” or anything else, I sleep a lot better at night knowing I’m financially prepared.

[flyer]

BG, your analysis of my general comment was fairly accurate, however, I have purposely stayed out of getting into specifics about our investment properties on this or any other thread, mostly because I feel people are going to do what they want to do regardless of what anyone else says, and because I don’t want to waste my time getting into a “war of words” with anyone.

I have some very strong opinions, based upon facts and experience, concerning why someone should or should not invest in certain geographic locations, but I’m not about to mention those thoughts in this environment.

We’re now in our 50’s, and started buying investment properties in our 30’s in a very different economic environment, with lots of cash reserves, and it worked out very well.

I just feel that people getting into the rental game today should proceed with caution, and have deep pockets–and that was my main point.

Hopefully, everything will work out as well for them as it has worked out for us. Perhaps only time will tell.

(and, BTW, I do enjoy your posts, BG.)

[flyer]

As someone who has owned investment properties in San Diego and elsewhere for many years, and done very well–mostly because the timing was right–I don’t really think anyone jumping into the market now can predict with complete certainty what their real estate or other investments will yield in 10, 20 or 30 years–I know we never thought we could.

My feeling is–if you are truly in a positive financial position, and want to get into the game at this point in our economic history–do so–but also keep a few “Mil” around for retirement–just in case “life happens.”

In the meantime, my philosophy has always been to live the life you want to live now–today–if at all possible–because you never really know what the future may bring.

[flyer]

As a native, and as SK mentioned, I remember San Diego when it was far less densely populated. Even though we don’t love some of the changes population growth has created in the County, we know it’s part of “progress,” and simply accept it.

Most of us who have been here for awhile, already have the homes and the lives we want, so it’s a fairly moot point, but for those who have younger children who would like to work here and buy homes here in the future, or for those who would like to relocate to our fair city in the future, IMO, the housing situation will continue to be a real supply and demand challenge–like it or not.

Perhaps different policies might have given us a different outcome with regard to the housing issue, but since we can’t go back in time, we’ll probably never know.

[flyer]

Just checking in from afar–(guess Piggington “is” an addiction:)

I don’t think any of us meant for our posts on this thread to be rude or inconsiderate–I know I certainly didn’t. I’m very much aware of what’s going on in the world for the majority of the population, and feel that none of us are immune to what might come our way.

I only brought any of this up with regard to property values for the purpose of making a comparison to today’s appreciation–to let people know how much it has changed over the years–nothing more.

I honestly don’t think the fact that a particular group of people happened to be at the right place at the right time with the right resources is a bad thing. Given the opportunity, I think most anyone would have taken advantage of those circumstances. It really had nothing to do with being ruthless or greedy–it was really more about luck and timing.

Anyway, those are my thoughts.

[flyer]

Sure, ER, without going into a lot of detail, many of the homes my wife and my family members purchased in the 60’s and 70’s for $70K or so, are now in the seven figure range. We purchased in CV and RSF in the 80’s and 90’s.

The older homes are all in great locations, and many have been remodeled, and passed down to younger members of the family.

San Diego has always been a great place, but even when my wife and I were growing up in La Jolla, I don’t think anyone knew or even expected San Diego to develop as it has–especially from a real estate perspective.

Going back, we know many families who actually built most of San Diego, and the history is fascinating. Even though we’ve lived many other places, we always come back “home,” and wouldn’t have it any other way.

Off with the creative side of the family (my wife, and two of our kids) for “Oscar Weekend,” which we’re looking forward to. In the past few years, we’ve pretty much immersed ourselves in many creative projects, and it’s been a blast. Have a great one–everyone!

[flyer]

Actually, folks, my in-laws, and other family members purchased their homes in the $70K range. The homes we purchased in CV and RSF were actually more, even in the 80’s and 90’s, and we were able to do so because of a financial windfall + our great jobs, that came our way around that time.

The only reason I even brought any of this up was to make some comparisons to the market today. I realize much of it was luck and timing, and for that, I am very grateful.

I also understand exactly what TS mentioned–anything can happen!

[flyer]

Since inquiring minds want to know–without going into specific detail–the homes that many in the family still live in or have handed down to family members are in Point Loma, Sunset Cliffs, La Jolla, Del Mar–etc.–all with bay or ocean views. Some are original, many have been remodeled. I grew up in a home in LJCC, and family members still live in that home as well.

My wife and I purchased homes in CV and RSF in the late 80’s and 90’s, and, by today’s standards, those prices would also be considered “steals,” and, actually, I was able to afford homes over $70K in my “prime” working years, which (as an airline pilot, among other things), are not over yet.

My point was, that I realize many of the younger people (I’m in my mid 50’s), have not yet had the opportunity to realize the tremendous appreciation on property as those who purchased in San Diego many years ago, and it will be interesting to see if that level of appreciation can ever be repeated.

[flyer]

[quote=bearishgurl][quote=flyer]…As far as comparing what people today are paying for their homes, vs. those who purchased homes here 40+ years ago–IMO, that’s a very difficult comparison to make–because no one chooses when they were born, and, consequently, younger people would never have been able to make those choices…[/quote]

Ahh, flyer, I beg to differ. Gen X/Y CAN choose!

They can choose to buy the property in my ChulaV link (or a similar one in SD Co) for ~$350K instead of a comparable one (on half the lot size, lol) for $700K+ in CarmelV, and (eventually) put the difference towards retirement.

You must remember that it was *unheard of* for a “boomer” to make even $70K++ annually for a “non-supervisorial” (tech) position, as Gen X/Y does today, as these positions did not exist when boomers were in their “working prime.”[/quote]

BG, I always enjoy reading your posts, and respect your wealth of knowledge, but I didn’t mean anyone of any age group was restricted from buying any property they may choose.

What I meant was, because of when they came into the market, by virtue of their age, most younger buyers did/do not have the option of buying properties like my MIL’s home for $70K many years ago, which is now valued at $2M+–and that’s just one of the many properties in this category in the family.

I was just pointing out how much things have changed with regard to real estate values in San Diego over the years.

I also realize what you are saying about “average” BB earnings, but there are also many BB’s, including myself, (not bragging, just stating facts) who have earned a great deal more than the “average” BB you mentioned, so, as all things in life, there are always exceptions to the rules.

[flyer]

I think you are right, ER, and EP.

It’s definitely been interesting to see the evolution of topics and people over the years, and I still enjoy checking in. Doesn’t keep me from doing anything else I need or want to do, so, why not?

Hopefully all that have come and gone have realized their dreams, since, IMO–whatever else you do–that’s what really matters!

[flyer]

Even though diverse, I agree wih both of your viewpoints on retirement, BG and ER. Not everyone wants the same things in life or in retirement–so, of course, some people will need more or less during those years.

As far as comparing what people today are paying for their homes, vs. those who purchased homes here 40+ years ago–IMO, that’s a very difficult comparison to make–because no one chooses when they were born, and, consequently, younger people would never have been able to make those choices.

I have older relatives here, parents included, who purchased amazing ocean-view homes in La Jolla, Sunset Cliffs, Point Loma and many other places for $100K or so, and we got a great deal in RSF, (edit: and CV, etc.) but there’s no way I can make any comparisons with those who are purchasing homes now.

I guess my real point, with regard to retirement planning, was that, whatever your choices in retirement, the main thing is that you can take care of yourself, and family members, as necessary for the balance of your life–to the level to which you aspire.

[flyer]

I agree that the “living while you are young” idea also needs to include preparing for retirement. As both ER and UCGal mentioned, and as I have found, it is possible to do both.

Looking at some of the stats, I’m just guessing that around 50% of BB’s will be in a position to retire comfortably–and the upper 20%, very well. I think most of us here, regardless of age, have planned to be in that top 20%.

As far as selling off assets–specifically properties–in the future as needed. I think a lot of that success or failure will depend on where those assets are. If one selected wisely, and as global demand continues to increase in certain geographic areas, I don’t think that will pose a problem for those who hold assets in those areas.

Going forward, perhaps “retirement,” may be reserved for a far more select few–only time will tell.

[flyer]

[quote=paramount]Most of you have been brainwashed by Wall Street and Madison Avenue propaganda.

1st of all, most people shouldn’t retire – stay active and work.

2nd, savings is paying 0% anyway (or close to zero).

Live while you’re young, screw saving money – most of it is harvested by wall street crooks anyway.

And then when wall street gives you what little is left, the Jerry Brown’s will take the rest for his cronies (govt workers, baby mommas, etc…).[/quote]

I agree, people should live while they are young (we did), and work as long as they have something interesting they want to do (doing that, too), but, IMO, everyone still needs to be prepared for when they can’t or don’t want to work anymore–and that is going to take a lot of resources–if you want to live well.

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