Future of San Diego house prices? (Merced, Encinitas: countertops, how much, kitchen cabinets)

[thait84]

It has always been the case that lower price points are more competitive than higher price points. I am just surprised that 800k is the bar, especially for ocean front property. In Carmel Valley, it seems like houses that are a million are either small or right next to the freeway.

Housing is definitely softening a bit though. Houses are sitting on the market for much longer. I think agents are pricing homes in anticipation of future gains and setting expectations with the sellers too high. April seems to have been the peak this year.

[sdurbanite]

Interesting read:

https://www.cnbc.com/2018/07/24/sout...he-nation.html

[tt003e]

And of course all real estate is local, so certain markets are tipping faster than others. In San Diego, 20 percent of all listings had a price cut in June, up from 12 percent a year ago. In Seattle, which continues to be the hottest market in the nation, 12 percent of all listings had a cut, the largest share in nearly four years.

, from https://www.cnbc.com/2018/08/16/hous...ut-prices.html

[1AngryTaxPayer]

The desirable areas of San Diego City are still climbing and expecting nearly a 4% increase by 2019.

https://www.zillow.com/san-diego-ca/home-values/

[expatCA]

Originally Posted by 1AngryTaxPayer

The desirable areas of San Diego City are still climbing and expecting nearly a 4% increase by 2019.

https://www.zillow.com/san-diego-ca/home-values/

It is not unexpected to see some leveling and a 5% or so reduction and then ... they will, start up again.

[sdlife619]

This is just a bump in the road, it doesn’t seem far off that we could possibly see a median price of a million dollars for houses in SD within 5 years.

You would think more people would move out of SD by the masses, but it doesn’t seem that way with all the damn people every freakin where!!

The traffic and crowds has gotten much worse just this year. I really don’t get it, and how so many people are still able to afford things like going out to party or eat especially after paying all their bills unless they make bank.

At the same time I see more and more brand new luxury cars being driven everywhere I go on the daily.

It used to be, you would see new very expensive BMW 5 or 7 Series cars only in wealthy enclaves like La Jolla, Del Mar, Coronado, and other nice parts of town, now it’s normal to see people owning these cars in areas like Lemon Grove and Spring Valley.

More people with money or have the financial ability and good credit that are able to afford those expensive luxury cars are moving in it seems.

As long as the sun keeps shining and no major earthquakes occur in the near future, SoCal will never be affordable ever again to the majority of people, but only to the few.

[expatCA]

Originally Posted by sdlife619

This is just a bump in the road, it doesn’t seem far off that we could possibly see a median price of a million dollars for houses in SD within 5 years.

You would think more people would move out of SD by the masses, but it doesn’t seem that way with all the damn people every freakin where!!

The traffic and crowds has gotten much worse just this year. I really don’t get it, and how so many people are still able to afford things like going out to party or eat especially after paying all their bills unless they make bank.

At the same time I see more and more brand new luxury cars being driven everywhere I go on the daily.

It used to be, you would see new very expensive BMW 5 or 7 Series cars only in wealthy enclaves like La Jolla, Del Mar, Coronado, and other nice parts of town, now it’s normal to see people owning these cars in areas like Lemon Grove and Spring Valley.

More people with money or have the financial ability and good credit that are able to afford those expensive luxury cars are moving in it seems.

As long as the sun keeps shining and no major earthquakes occur in the near future, SoCal will never be affordable ever again to the majority of people, but only to the few.

With the low number of houses on the market, the people who are crowding the area have been in SD for years and can afford it based on that period of time when housing cost was lower. They pay less now. New people pay more and they must have more to do so. This is why the population growth is Birth rate and then foreign immigration. More citizens leave CA than move in from other States.



Many of the BMW's etc are leased not bought outright. I would never buy one, junk.

[Slytrix]

Originally Posted by expatCA

With the low number of houses on the market, the people who are crowding the area have been in SD for years and can afford it based on that period of time when housing cost was lower. They pay less now. New people pay more and they must have more to do so. This is why the population growth is Birth rate and then foreign immigration. More citizens leave CA than move in from other States.



Many of the BMW's etc are leased not bought outright. I would never buy one, junk.

And what do you drive, let me guess a ford?

[1AngryTaxPayer]

Originally Posted by expatCA

With the low number of houses on the market, the people who are crowding the area have been in SD for years and can afford it based on that period of time when housing cost was lower. They pay less now. New people pay more and they must have more to do so. This is why the population growth is Birth rate and then foreign immigration. More citizens leave CA than move in from other States.



Many of the BMW's etc are leased not bought outright. I would never buy one, junk.

I wouldn't say junk. It reminds me of the German tanks of WWII. They were completely overbuilt and very, very expensive to make and keep running. Bottom line for most people is they are wasting money on a car that needs constant, expensive up keep vs other vehicles. They ride great, look great and if you don't mind tossing money at them are good cars. For me it was just a lesson on throwing money into the toilet.

There are very many vehicles made here that are just as good without the price tag. BMW doesn't sell a 1 ton truck capable of towing 15 thousand lbs that can do 90 mph and get 20 mpg. Ford, Chevy and Dodge do. If BMW makes it, it will be 200 grand. Like their RVs.

[Slytrix]

We are on our 2nd BMW and yes can be expensive. I leased a 2008 550i for 3 years and loved every minute I was in that car. It was perfect in The 3 years I had it. The only reason I didn't get another at the time was I really needed a truck at the time.

Our new BMW (we've had 1 month) is a 2018 X3 M40i. It replaced an older SUV that we had for 11 years and were ready to replace and downsize. It is awesome in every way and was not expensive.