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Old 06-02-2008, 07:43 PM
 
34 posts, read 54,235 times
Reputation: 26
I'am currently in East Lake Chula Vista, renting a town home.
The wife and I LOVE the area, but a 1,600 sq. ft. town home is currently around $300k, not to bad really. Until you consider these same homes were priced at $500k just a couple of years ago.

San Diego is nice, but it is NOT Manhattan New York by any stretch.
Granted locatin is a selling point, but land is not as hard to come by as New York city so don't bother comparing the two.
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Old 06-02-2008, 07:45 PM
 
Location: San Diego
916 posts, read 1,957,398 times
Reputation: 378
Quote:
Originally Posted by JohnAlt View Post
Care to name a few of these cities?

Similar size, let's see:

Dallas 142k
Phoenix 222k
Philadelphia 221k


San Diego 459k


Doesn't look like a $300-$400 dollar a month difference to me.

http://www.realtor.org/wps/wcm/conne...6f9f2a0a3f5750
alright, maybe metro area or region would have been a more appropriate moniker. i do not feel that the san diego region is overpriced because as the other poster purported, it's all about supply and demand and places are worth what they are valued at. it's all a part of adam smiths invisible hand theory. sure, speculation drove up the prices in california at a much faster rate then can be sustained which is why prices pulled back deliberately fast, however, san diego is priced fairly for what it is. there are hardly any places like it, and it just so happens to be a place with a location and lifestyle that the vast majority of people want to be a part of. i guess it's just me, but san diego is now slightly undervalued.
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Old 06-02-2008, 08:59 PM
 
Location: La Mesa
339 posts, read 381,001 times
Reputation: 153
Quote:
Originally Posted by SouthCali4LifeSD View Post
alright, maybe metro area or region would have been a more appropriate moniker. i do not feel that the san diego region is overpriced because as the other poster purported, it's all about supply and demand and places are worth what they are valued at. it's all a part of adam smiths invisible hand theory. sure, speculation drove up the prices in california at a much faster rate then can be sustained which is why prices pulled back deliberately fast, however, san diego is priced fairly for what it is. there are hardly any places like it, and it just so happens to be a place with a location and lifestyle that the vast majority of people want to be a part of. i guess it's just me, but san diego is now slightly undervalued.

The link was for metro areas.

You're right about places being worth what people will pay. But that's a moving target that's dropping at this time.

If you think the San Diego area is fairly priced you should buy.
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Old 06-03-2008, 12:27 AM
 
Location: SF Bay Area
10,257 posts, read 13,439,138 times
Reputation: 5415
why has no one mentioned the median income in SD? Our incomes are still way out of line with the cost of living. Yes people will pay more to live here but there is still too much of an imbalance when it comes to incomes. If we had Bay Area incomes then I'd say we'd be priced about right.

we're pretty damn low on this list: US Metro Areas ranked by Average Annual Salary
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Old 06-03-2008, 01:10 AM
 
Location: Silver Spring, Maryland / But still having San Diego / Eastlake withdrawal damn it !!!
339 posts, read 914,005 times
Reputation: 168
In my opinion San Diego is not undervalued at all right now. I'd say that it's just about right now for what the area has to offer which is quite a bit for those who like it here.
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Old 06-03-2008, 05:57 AM
 
34 posts, read 54,235 times
Reputation: 26

Taken from the US Census Bureau via wiki.
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