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Old 01-31-2018, 10:55 PM
 
Location: San Diego
825 posts, read 1,012,661 times
Reputation: 640

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Quote:
Originally Posted by 1AngryTaxPayer View Post
But, as I stated, one can still get a home for 50 grand in a safe area. If home ownership is reason #1 then it's still out there. Why people think it will ever go back to that in S Cal is beyond me cause that ship sailed in 1970.

Beyond me too. I've never encountered anyone who thinks home prices in Socal will drop to 50k. Who said or posted that?
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Old 01-31-2018, 10:58 PM
 
Location: San Diego CA>Tijuana, BC>San Antonio, TX
4,967 posts, read 5,050,784 times
Reputation: 4657
A couple of people missed a zero in their figures, they meant 500K
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Old 01-31-2018, 11:02 PM
 
Location: San Diego
40,499 posts, read 36,331,563 times
Reputation: 24785
Quote:
Originally Posted by JohnAlt View Post
Beyond me too. I've never encountered anyone who thinks home prices in Socal will drop to 50k. Who said or posted that?

Is this your hobby, drive by wtfs? I mean, I think they are funny but just want to know your contribution.

Good to hear from you.
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Old 01-31-2018, 11:45 PM
 
Location: San Diego
825 posts, read 1,012,661 times
Reputation: 640
Quote:
Originally Posted by 1AngryTaxPayer View Post
Is this your hobby, drive by wtfs? I mean, I think they are funny but just want to know your contribution.

Good to hear from you.

OK I'm confused. Did you mean 50k sailed in 1970 or the hope of owning did? I'd agree about the 50k (might quibble about the exact year). I don't know of anyone who would disagree.

But someone with a solid middle class income could comfortably buy here as recently as a few years ago.
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Old 02-01-2018, 02:34 PM
 
18,173 posts, read 12,558,986 times
Reputation: 9235
Quote:
Originally Posted by JohnAlt View Post
OK I'm confused. Did you mean 50k sailed in 1970 or the hope of owning did? I'd agree about the 50k (might quibble about the exact year). I don't know of anyone who would disagree.

But someone with a solid middle class income could comfortably buy here as recently as a few years ago.
When housing hit the bottom. Now no chance.
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Old 02-01-2018, 10:07 PM
 
Location: San Diego
825 posts, read 1,012,661 times
Reputation: 640
Quote:
Originally Posted by expatCA View Post
When housing hit the bottom. Now no chance.

OK Mr. Obvious.

But nobody knows the future.
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Old 02-02-2018, 10:13 AM
 
8,497 posts, read 27,493,528 times
Reputation: 4753
My company has 40 employees in SD and Boston. Only 5 employees own homes and only 4 have children
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Old 02-02-2018, 12:21 PM
 
27,501 posts, read 56,596,376 times
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People are still buying and the proof is in the sales reported.

If no one could buy there wouldn't much in the way of sales.

I looked at the old childhood home... it sold new in 1959 for 17k and pushing 700k now...

Home is typical 1200 square foot ranch 3 bedroom 2 bath... very well maintained with upgraded kitchen... no additions or special attributes.

In 60 years it has appreciated 40 fold...

Thing is it sold foreclosure in 2010 for 280k which was 80 less than it sold for a few years prior...

Today is but a moment in time or a snapshot... the powers that be were lamenting the case of the market 10 years ago and struggling to prop up prices and prevent foreclosures...
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Old 02-02-2018, 06:35 PM
 
Location: San Diego A.K.A "D.A.Y.G.O City"
1,992 posts, read 4,091,660 times
Reputation: 2725
Quote:
Originally Posted by Ultrarunner View Post
People are still buying and the proof is in the sales reported.

If no one could buy there wouldn't much in the way of sales.

I looked at the old childhood home... it sold new in 1959 for 17k and pushing 700k now...

Home is typical 1200 square foot ranch 3 bedroom 2 bath... very well maintained with upgraded kitchen... no additions or special attributes.

In 60 years it has appreciated 40 fold...

Thing is it sold foreclosure in 2010 for 280k which was 80 less than it sold for a few years prior...

Today is but a moment in time or a snapshot... the powers that be were lamenting the case of the market 10 years ago and struggling to prop up prices and prevent foreclosures...

With the prices many of these older homes are selling for like yours from your childhood, I wouldn’t doubt that prices in the very near future could reach a million bucks for homes like the one you grew up in.


It wasn’t that long ago when a million dollars bought you a mansion, now you can’t even buy a mansion for a million bucks anymore in CA, it’s more like a 2,000 sqft home from the 70’s!!

Sadly this is the new standard.

Prices for homes in SD aren’t a real reflection of the kind of jobs we have here to support the prices. It’s the inflation that has skyrocketed to insane levels of all these houses that’s the main cause.

Not sure how much the Bay Areas tech industry is supporting the asinine housing market up there, but it’s not like every one in SF and Oakland is in the tech field. But unfortunately if you’re not in the tech industry chances are you aren’t buying a home as literally nobody can buy a house in the Bay unless your making a **** ton of money.

It’s almost like you can just throw out a price as a homeowner for your home, gamble and see who will pay it. The most desperate, the most wealthy usually wins as they are the ones that want to move here so bad and have the means to do it.

Not the everyday folks such as your local auto mechanic, your repairman, your florist, the cook at your favorite restaurant, semi truck driver, school bus driver, or even some police officers.
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Old 02-02-2018, 06:59 PM
 
18,173 posts, read 12,558,986 times
Reputation: 9235
Quote:
Originally Posted by JohnAlt View Post
OK Mr. Obvious.

But nobody knows the future.
More buyers than sellers, foreign investments, US investors.

Aside from a major economic impacting the whole Country prices will not drop.
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