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July 12, 2016 at 11:19 AM in reply to: Prediction: San Diego market goes up 8%+ over the next year #799545July 12, 2016 at 8:01 AM in reply to: Prediction: San Diego market goes up 8%+ over the next year #799535
The-Shoveler
ParticipantI don’t know about 8%, but I see two things feeding the housing market increases over the next few years IMO.
1) Demographics (largest bulge in population is now 25-26 years old).
2) The Gov has gotten serious about creating wage inflation over the next 5-6 years.
ParticipantFrom the described “current job leaves us alone for 24-48 hours at a time”
Does not sound like he would be doing a daily commute
(most likely off hours as well).
TV may not be a bad option in such a case.
Participant[quote=La Jolla Renter]Affluent family in San Fran and NYC live in pretty small apartments with kids. 900 – 1,000 sqft for a family of 4.
BG, I don’t think we are pushing our values. Just our opinions for all readers to take it or leave it. But point taken.
Anyone have an idea of what the max mortgage a family in this situation could qualify for? The current guidelines seem pretty conservative.
What does 50-75 miles a day extra commute cost? A home right next to your office is probably worth $50k more in home price.[/quote]
Probably closer 500K more.
ParticipantMy 2 cents
I would not say that a bubble/bust would not occur again in SD, but I don’t see enough new homes going up currently to match household formation so IMO we are likely to remain in a housing squeeze for a few more years at least (maybe 5).Also your savings purchasing power is likely to be eaten away by inflation over that period as well.
Bottom line:
We may have another housing bust someday but it is very (VERY) unlikely to come anywhere close to the bust in 2009-11.If you can find something (even in Temecula etc…) buy it.
The above assumes the whole world economy does not get sucked into a black hole in the next few years.
Anyway IMO
ParticipantWell I feel a lot less stupid for buying silver at 15 now.
June 24, 2016 at 2:27 PM in reply to: The Donald Trump, Illegal Alien, Foreigner, Immigrant Bitch and Moan Thread #799044Participant“British millenials are ticked off”
I am not sure that is not just the media talking for them like they do here saying they want a condo and bike to work when they really want a house in the suburbs and a BMW.
ParticipantYou would need to also factor in that there is no Prop 13 in TX so the property Tax would most likely continue going up.
Some area’s the property tax are not so high in TX it has more to do with schools and added services etc.. of a given suburb etc…
Also Land not being used for Farming etc.. is Taxed very high.
ParticipantI had a colleague who moved to Dallas area,
her Property Tax was 16K on a 300K home.Best hint I got was to get a home with as little land as possible unless you actually plan to farm/ranch it.
relocating to TX works better if your the CEO or Cxx IMO.
ParticipantI would say that in SoCal at least, Land use restrictions and building codes (along with Labor shortages “seems Millennials are not crazy about building careers in construction”).
We have zoned in housing shortages.
ParticipantLOL,
The 70’s and early 80’s were no picnic.
IMO the current grads will have much better opportunities than we did.
ParticipantI think I remember the HS Grad speech,
It was something like
You’er not special, you’er most likely just cogs in the machine.
Welcome to the machine.Yep I think that was the gist of it
But then again that was in the 70’s and things were a little fuzzy.
May 31, 2016 at 7:04 AM in reply to: Which area in San Diego do you think will appreciate the most in the next 5-10 years? #798129ParticipantIMO OceanSide.
Anyway just my opinion.
ParticipantA housing downturn anywhere near as severe as 2007-10 is extremely unlikely in the next few years.
It would take and extreme economic downturn and be really really bad for just about everyone (just looking at the demographics just as the biggest bulge in population is about 25 years old and likely looking for their first home).
anyway IMO
ParticipantIt depends.
If you just want to be done with LL’ing (or a particular property/investment etc…) then now may not be a bad time to get out.
No one knows what will happen next year, but in ten years….
Who knows maybe you would want the income.
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