[fun4vnay2]

The market is indeed hot. No doubt about it.

We’d see how long this madness continues or if this time is different.
I can see prices touching/surpassing their peak values.

[fun4vnay2]

Best to consult a realtor when to buy a home and if you want to know if real estate market is hot 🙂

[fun4vnay2]

If you already have so many concerns, I think you should move on. I’d not like to buy a house beside a house which already has so many additions with or without permit. But that’s me.

[fun4vnay2]

I rented in Mira Mesa in 2007 and I can rent the same apartment for 10% more now. One of the hottest apartment complex in MM

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The apartments available in 2006 for 1400/month is now available for 1650/month now.
This is true broadly for a 2BR/2bath in MM.

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How would people pay for higher rent or higher prices with stagnant wages?

I see increase in jobs in san diego which are not high paying though the media touts them as otherwise. .

It’s gonna be interesting. .

[fun4vnay2]

I have been tracking rent in mira mesa for last 10 years and I can say that in the last 10 years the rent increased max by 15% or even less.

Also I wanted to buy a condo there to rent out but no way I can be cash positive With current evaluations..
same thing for sfr..

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Well said CAR. I kind of falls in this category at least I think I do

The info overload because of the explosion of all kinds of media makes people worry more and more.
Not sure if it is for better or worse.

I’d rather live a simple/just having-enough life worry-less than a life full of abundance of material wealth.

[fun4vnay2]

I am from the same vicinity. I like older part of scripps though.

Mira Mesa is not as bad as people think at-least from my perspective. I commute on Mira mesa all year on car and on bicycle as well.
56 makes the commute too far and 56 westward is not good traffic wise as well

[fun4vnay2]

This is a hot seller’s market. Don’t think you would be able to negotiate the price down but no harm in trying unless your heart is set on the house and you’d pay a perceived premium on the price..

[fun4vnay2]

The housing market is quite hot right now, so asking for reduction base don reduced appraisal won’t fly.
Or wait if you can for the market to cool down..

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You nailed it AN.
Looks like we are so per-occupied with making money and thinking about millions/millionaire, we forget to live our lives..
To be happy: You need good enough money..

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Very Aptly said CAR.

I see that with time, the class disparity is gonna increase a lot. Just look at the stats for the last 25 years.

Regarding Ivy League, I wonder if the Ivy League starts taking students with low GPA etc etc and see how successful their students are.

Personally, I don’t think the Ivy league makes students successful since most of these students are pre disposed to be successful anyway as they have strong work ethic evident from their high school grades/work. It’s a cycle which feeds itself.

[fun4vnay2]

I think a correction/may-be-not-crash is due in SD at least. This correction stands true for both real estate and stocks.

I can see everyone trying to desperately prop up the prices here with all the means they have.

For me, it’d be interesting to see how would it play out because each time is different and we all have out own binders ON.

I won’t be surprised if my own house go down below for what I bought.

[fun4vnay2]

Just curious, How do you define coastal california ?

Would whole of SD be qualified as coastal ?

For my perspective, everything is cyclical and nothing keeps going up for ever. This gives us opportunity.

A lot of people tried to convince me otherwise about SD real estate in 2007, I disagreed with them and bought in 2011.
The first house I bought in 2001, I sold it in 2007ish..

I am sure, my current house valuation would come down with due time

My guess: Wages are going to be stagnant at best which would affect the housing prices as well.

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