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(former)FormerSanDiegan
Participant[quote=protorio]
But to be honest, things are getting affordable in more normal San Diegan neighborhoods. I’ve seen a lot of nice normal houses between 300-350K in family neighborhoods.
I’d be happy to live in other parts of the country. But I’m glad I’m here.[/quote]
I agree that there are some affordable options. In my opinion, if you can’t swing a house financially in San Diego today, odds are that you probably never will (barring salary increase, career change graduating, etc) …
(For those who can afford, but are holding off for various reasons, willingness and readiness are separate issues. There may be plenty of other valid reasons to hold off. I am strictly talking ability here).According to Rich’s figures, affordability is at or near a 35-year high. Monthly payments, relative to rent or relative to income are as low as have been measured for at least 33 years.
Here is a link to his figures, with the one’s I am referring to below for convenience…
[img_assist|nid=14211|title=SD payment-to-rent ratio|desc=|link=node|align=left|width=432|height=334]
[img_assist|nid=14212|title=SD payment-to-income ratio|desc=|link=node|align=left|width=436|height=335]
Participantwanttobuy –
Your strategy makes perfect sense to me.
… if it were 1999. But, unfortunately, it is 2010 and I think we are not yet positioned for this strategy to work out. In your shoes, I would wait another 2 years, then reconsider this.Assuming that your move-up place is in a higher-end area, the dynamics of the market favor waiting. I don’t see significant danger of large up-side moves at the higher end of the market, and we are likely to need to see some equity build up in the starter homes before there is signficant upward pressure on move-up homes.
Of course, my opinion is biased by interpretation of what I would consider move-up areas. What area(s) are you considering for the move-up home ? What area is your present one?
Participantwanttobuy –
Your strategy makes perfect sense to me.
… if it were 1999. But, unfortunately, it is 2010 and I think we are not yet positioned for this strategy to work out. In your shoes, I would wait another 2 years, then reconsider this.Assuming that your move-up place is in a higher-end area, the dynamics of the market favor waiting. I don’t see significant danger of large up-side moves at the higher end of the market, and we are likely to need to see some equity build up in the starter homes before there is signficant upward pressure on move-up homes.
Of course, my opinion is biased by interpretation of what I would consider move-up areas. What area(s) are you considering for the move-up home ? What area is your present one?
Participantwanttobuy –
Your strategy makes perfect sense to me.
… if it were 1999. But, unfortunately, it is 2010 and I think we are not yet positioned for this strategy to work out. In your shoes, I would wait another 2 years, then reconsider this.Assuming that your move-up place is in a higher-end area, the dynamics of the market favor waiting. I don’t see significant danger of large up-side moves at the higher end of the market, and we are likely to need to see some equity build up in the starter homes before there is signficant upward pressure on move-up homes.
Of course, my opinion is biased by interpretation of what I would consider move-up areas. What area(s) are you considering for the move-up home ? What area is your present one?
Participantwanttobuy –
Your strategy makes perfect sense to me.
… if it were 1999. But, unfortunately, it is 2010 and I think we are not yet positioned for this strategy to work out. In your shoes, I would wait another 2 years, then reconsider this.Assuming that your move-up place is in a higher-end area, the dynamics of the market favor waiting. I don’t see significant danger of large up-side moves at the higher end of the market, and we are likely to need to see some equity build up in the starter homes before there is signficant upward pressure on move-up homes.
Of course, my opinion is biased by interpretation of what I would consider move-up areas. What area(s) are you considering for the move-up home ? What area is your present one?
Participantwanttobuy –
Your strategy makes perfect sense to me.
… if it were 1999. But, unfortunately, it is 2010 and I think we are not yet positioned for this strategy to work out. In your shoes, I would wait another 2 years, then reconsider this.Assuming that your move-up place is in a higher-end area, the dynamics of the market favor waiting. I don’t see significant danger of large up-side moves at the higher end of the market, and we are likely to need to see some equity build up in the starter homes before there is signficant upward pressure on move-up homes.
Of course, my opinion is biased by interpretation of what I would consider move-up areas. What area(s) are you considering for the move-up home ? What area is your present one?
ParticipantThis thread and a recent visit back to San Diego makes me want to move back. It is considerably more affordable than where I am now.
I guess it’s all relative.ParticipantThis thread and a recent visit back to San Diego makes me want to move back. It is considerably more affordable than where I am now.
I guess it’s all relative.ParticipantThis thread and a recent visit back to San Diego makes me want to move back. It is considerably more affordable than where I am now.
I guess it’s all relative.ParticipantThis thread and a recent visit back to San Diego makes me want to move back. It is considerably more affordable than where I am now.
I guess it’s all relative.ParticipantThis thread and a recent visit back to San Diego makes me want to move back. It is considerably more affordable than where I am now.
I guess it’s all relative.Participant[quote=jstoesz]
But so far, the S. California wife has not been terribly receptive.
[/quote]S. California wife ?
🙂How long were you in San Diego ?
Participant[quote=jstoesz]
But so far, the S. California wife has not been terribly receptive.
[/quote]S. California wife ?
🙂How long were you in San Diego ?
Participant[quote=jstoesz]
But so far, the S. California wife has not been terribly receptive.
[/quote]S. California wife ?
🙂How long were you in San Diego ?
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