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LukeAJParticipant
“Demographic Change”
I will not argue your point, that there seems to be more individuals with more money in San Diego. Real Estate has had quite a run over the past 5 years, leverage on the upside is bliss.
But, where are the high paying jobs, that would typically accompany the wealth recently produced in San Diego? Aside from Real Estate, I don’t believe San Diego has seen a demographic change in its job composition. I must have missed the headline about SD becoming a hotbed for the best financial and business leaders of the US. This leads us to the point that underscores the Bear story for the San Diego housing market. If RE flattens in San Diego, where will the capital necessary to drive this market come from?
March 11, 2006 at 8:59 AM in reply to: Theres Not Going to Be Any Housing Crash! Read my Blasphemy #23649LukeAJParticipantGood luck with your beach house…
LukeAJParticipantI countless open house signs today (in South Park, North Park, Hillcrest & Mission Hills.) There were so many signs, it was difficult to follow 1 path of signs without accidently following signs to a different open house…
LukeAJParticipantI am a real estate Bear, I do not own property, I actively rent and plan to do so for the remainder of the year.
My bear status stems from the disparity between the value and price of the San Diego market. I believe that sentiment, the primary driver of the current speculative environment, has hit it’s inflection point. Prices are more likely to fall, and many will be left with a undesirable balance sheet for a slowing economy.
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