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Old 05-14-2007, 10:39 AM
 
2,683 posts, read 5,747,013 times
Reputation: 1419

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Quote:
Originally Posted by lb1 View Post
I saw a list like this last week, but can't remember what website it was on. It had the 10 most overpriced cities, which included Los Angeles, San Francisco, New York, Boston, Honolulu, etc. If I close my eyes and think of places I would want to live, these places are all ones I would consider. When I see other lists of the 10 places where you get the most bang for you buck, I would never want to live there. Maybe the most overpriced cities are expensive because people want to live there! You can't treat where people live like stocks / bonds. They are more than just an investment.
That's not necessarily true, because Atlanta is a nice city and it's cheap. Sure the weather might not be as good as San Diego, and the crime right might be higher, but as long as you stay of the bad areas and have heating and air conditioning you'll do all right.
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Old 05-14-2007, 12:28 PM
 
124 posts, read 251,297 times
Reputation: 47
The price should have been reduced in most of the areas in SD. Part of the reason that the price remains high is that it is the spring-summer house hunting period so that the sellers want to jack the price up a little in order to gain some money at the terminal phase of the house booming.
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Old 05-15-2007, 01:34 AM
 
Location: San Diego CA
646 posts, read 1,157,902 times
Reputation: 346
Quote:
Originally Posted by SEAandATL View Post
That's not necessarily true, because Atlanta is a nice city and it's cheap. Sure the weather might not be as good as San Diego, and the crime right might be higher, but as long as you stay of the bad areas and have heating and air conditioning you'll do all right.
In San diego, A/C is usually not needed. And heating is not either!
We have very mildweather here, and that can be amoney saver.

As far as gas goes, ride the transit! It is efficient.
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Old 05-15-2007, 12:50 PM
 
943 posts, read 157,553 times
Reputation: 224
Granted San Diego and Calif in general is expensive. Am I sure they are the only places that are, absolutely not. People talk about calif like you need to be a millionaire to live there, then why are so many there that are not well off. Boston, NYC, DC, South Fla as well as San Diego and calif etc are all expensive, some people are just able to handle it better than others. I agree though that the cheaper places in the country are not always where most people want to live. Oh yeah Seattle and Portland two other rip off places to live.
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Old 07-18-2007, 09:58 PM
 
11 posts, read 20,531 times
Reputation: 13
NC is a backwards southern city. Most people don't like LA as much as other coastal CA cities until they get more familiar with the city. People who know the city well love it. People from New York love it so much that they relocate there driving up the housing prices and then complain that it isn't like New York.

Quote:
Originally Posted by niy38 View Post
you got this wrong. I don't think many people like to live in LA after he
get a little bit more familar with this city.

and NC is a nice place.

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Old 07-19-2007, 07:27 AM
 
1,890 posts, read 4,091,359 times
Reputation: 1079
San Diego will always be more expensive than most cities, but it was WAY overpriced the last four years. You can see how long the homes have been on the market and how much sellers have slashed prices on ziprealty. The bubble has burst- it is definitely a buyers' market and will likely remain that way for the next two years. I'm not sure it has even bottomed out yet.
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Old 07-19-2007, 08:30 AM
NCN
 
14,087 posts, read 12,468,631 times
Reputation: 16185
NC is a backwards southern city. by Surferjd

Actually North Carolina is a state. Some of us have a computer. I have been to California. It was a nice place to visit. There is no way I would leave North Carolina and its Southern Charm to move there.
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Old 07-19-2007, 10:23 AM
 
30 posts, read 237,218 times
Reputation: 40
Everyone has to remember san diego is a surrounded city. Ocean to the west mountains to the east TJ to the south and LA to the north.I dont think the buble in san diego can burst a slow leak definitely but never burst.We will never see prices go back down to pre 2000 prices
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Old 07-19-2007, 11:32 AM
 
17 posts, read 52,862 times
Reputation: 20
This is an interesting read for those who did not buy yet. or those waiting. a bit scary yes.

Sell Now - The End Of The Housing Bubble
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Old 07-19-2007, 03:01 PM
 
3,002 posts, read 10,259,542 times
Reputation: 813
The one data point that resonates with me is the fact that only 5% of the people in SD can afford the median priced home. This needs to sit closer to 13% for growth to sustain itself. One has to believe that the market will adjust downward to meet the pool of available buyers. I watch the MLS activity in multiple areas to the north and the amount of inventory over 700k continues to grow. Under 700k, below 600k seems to be the only spot with solid activity. We also have to remember that this affordability crisis is really pretty new. Less than 10 years ago, San Diego was very reasonable.

I think what will happen is that the high cost of housing accompanied by the fact that appreciation is flat to down, will make it harder for employers to attract people to the area and inturn will result in more competitive salaries. This will soften the downward trend that's being promoted by both rising interest rates and the media which is scaring many people into sitting on the sidelines. In turn, more will rent, which will push rents up and further justify carrying a mortgage.

In short, things tend to balance themselves out in any market.
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