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paranoid
ParticipantBugs, I know that builders are running from land options in Other parts of this country, but didn’t know the same thing is happening in SD. Do you have some examples of that in San Diego? I’m sure many people are interessted to learn about it.
ParticipantSDreator and surveyor, I understand your points. I’m not housing bullish either. I just try to say that comparing this slump with the last one in the early nineties, there is a major difference that is that this time there is less developable land, so that this generates a stronger support.
Some people like to say there are a lot of empty houses out there. but they forget to mention that most of these empty houses have always been there, and are not available for sale because they are 2nd /vocation homes. so you have to discount the effect of these houses on the price pressure.
ParticipantSDreator and surveyor, I understand your points. I’m not housing bullish either. I just try to say that comparing this slump with the last one in the early nineties, there is a major difference that is that this time there is less developable land, so that this generates a stronger support.
Some people like to say there are a lot of empty houses out there. but they forget to mention that most of these empty houses have always been there, and are not available for sale because they are 2nd /vocation homes. so you have to discount the effect of these houses on the price pressure.
ParticipantI think what surveyor just said is very valuable.
Most other guys are just irrational house bears. Emotion is the worst enemy in bull and bear market. pitty that there are so many emotions on this board, in place of reasons.ParticipantI think what surveyor just said is very valuable.
Most other guys are just irrational house bears. Emotion is the worst enemy in bull and bear market. pitty that there are so many emotions on this board, in place of reasons.ParticipantMaybe I exagerated a little bit. but SD housing has increased about 200% in the last decade. that’s about 10% /year. so for first time home buy, the inflation can be considered to be about 10% /year for the last decade, or equivalently 15% for the last 7 years.
Combining this with the M3 expansion, I’m not surprised that the interest rate has just broken a 20 year down trend, and started rising recently, panicked many on the wallstreet.
ParticipantMaybe I exagerated a little bit. but SD housing has increased about 200% in the last decade. that’s about 10% /year. so for first time home buy, the inflation can be considered to be about 10% /year for the last decade, or equivalently 15% for the last 7 years.
Combining this with the M3 expansion, I’m not surprised that the interest rate has just broken a 20 year down trend, and started rising recently, panicked many on the wallstreet.
ParticipantKewp,
one. there have always been many empty houses out there. that’s because rich people from other places have their 2nd or vacation homes here.
two. this housing slump is different from the last one, because in the early nineties, there were vast undevelopped lands in camel valley, on the corridor of now 56 higher way (4S, Del sur, torrey hills etc.). But this time what’s left there?
SDrealtor knows much better than most of you guys. listen to what he has to say.
ParticipantKewp,
one. there have always been many empty houses out there. that’s because rich people from other places have their 2nd or vacation homes here.
two. this housing slump is different from the last one, because in the early nineties, there were vast undevelopped lands in camel valley, on the corridor of now 56 higher way (4S, Del sur, torrey hills etc.). But this time what’s left there?
SDrealtor knows much better than most of you guys. listen to what he has to say.
ParticipantBut most jobs are in San Diego, not in the desert. How many people are willing to live in Riverside or Julian while work in San Diego? I know there are a lot of land in Alaska, but does that really help you if you work in San Diego? Common, tell me where are the free land inside San Diego?
ParticipantBut most jobs are in San Diego, not in the desert. How many people are willing to live in Riverside or Julian while work in San Diego? I know there are a lot of land in Alaska, but does that really help you if you work in San Diego? Common, tell me where are the free land inside San Diego?
Participantbut can you really refute the fact there are really very limited amount of slots available for building?
Can you refute that San Diego is one of the most desired places to live if people can afford to?
Participantbut can you really refute the fact there are really very limited amount of slots available for building?
Can you refute that San Diego is one of the most desired places to live if people can afford to?
Participantfat_lazy_union, why do you say Del Sur is a ghost town? can you elaborate on this?
Another related question: which plave is better, Del Sur or 4S? I visited both communities recently, and Del Sur is more expensive than 4S. Do you know why?
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