The financial industry is filled with salespeople. In my opinion, it’s always buyer beware with salespeople. They shouldn’t be held accountable if they are able to sell you a bad investment. That being said, I’m fond of saying, “I hate salespeople.”
Each individual has to do his/her own homework, and be skeptical and realistic about what is really motivating anyone selling you anything.
“people just have to have that la jolla address to maintain their status symbol.”
Yes, but they’ve had to have that over the past 10 years at much, much lower prices. Don’t confuse a reason to live somewhere with the absolute price a home will fetch. If/when interest rates go up, simple math is going to dictate these homes decline in real value (whether it’s price or inflation that eats it away).
