Why do people complain that SD is expensive? (San Diego: mortgage, selling a house)

[Racer46]

Originally Posted by NORTY FLATZ

People gotta complain about something. (It makes them "feel better about themselves.")
San Diego weather? Yeah, right.
San Diego opportunity? Yeah, right.
San Diego COL? Well, there's that.

So, WHY is San Diego so expensive? (No, it's NOT about the number of houses/apartments.)

The simple answer is "quality of life." Yup, people want a better quality of life. Here, they get that.

This equates to DEMAND.

Nothing unusual about that either. The move in started decades ago, 1950's and hasn't stopped. It is normal.


Now the "better quality if life" can be debatable depending on where you live. In SDC pretty good, but not everywhere in SDC. You get what you pay for (or can afford to pay for).

[1AngryTaxPayer]

This is insane


San Diego Home Report
Average Home
Average Price $932,476
Avg Bedrooms 2.66 beds
Avg Bathrooms 2.03 baths

[NORTY FLATZ]

Originally Posted by 1AngryTaxPayer

This is insane


San Diego Home Report
Average Home
Average Price $932,476
Avg Bedrooms 2.66 beds
Avg Bathrooms 2.03 baths

Lots of youngsters that made millions, are coming down from the bay area. (Believe it or not, they're coming here because of the lower cost of living!)

As racer46 said above. It all depends on what we compare it to.

EDIT~ Here, it's $997,720...

[JakeDog]

Prices are going up because of low interest rates, influx of people from other areas that can work remotely, etc.

For me, I really like it here but would move to a cheaper location if I could make the same salary as I do here, but I can't duplicate my salary in any cheaper area- only in more expensive areas that I like less, so why bother? The salaries are actually pretty good in certain fields and although it's expensive, it is a lot cheaper than the Bay Area or the awful LA area.

[92greenyj]

Originally Posted by JakeDog

Prices are going up because of low interest rates, influx of people from other areas that can work remotely, etc.

For me, I really like it here but would move to a cheaper location if I could make the same salary as I do here, but I can't duplicate my salary in any cheaper area- only in more expensive areas that I like less, so why bother? The salaries are actually pretty good in certain fields and although it's expensive, it is a lot cheaper than the Bay Area or the awful LA area.

But if you move to a cheaper location, you don’t need to make the same money. You can live just as well if not better on less elsewhere.

Think about it, lower cost of living means you don’t need to make as much to live comfortably. That’s part of why we are bailing on SD and CA. We are buying a much larger home on a huge chunk of land for cash from the sale of our house here. So no mortgage payment for a start. Add in lower sales and income taxes, lower fuel costs, lower costs on everything else across the board, and I don’t need to make nearly as much or work nearly as hard as we did to live here. My plan is to get a part time 3 to 4 day a week gig and spend the rest of my time with my family and working our new property. Now THAT is quality of life. Not fighting traffic for 2 and a half hours a day and working 10 hour days 5 days a week and barely getting to see or spend time with my kids. You can have that.

[JohnAlt]

Originally Posted by JakeDog

Prices are going up because of low interest rates, influx of people from other areas that can work remotely, etc.

There's also the people reluctant to list (and show) their homes during the pandemic. That's been the main driver of how ridiculously low inventory became.

[joosoon]

Originally Posted by 92greenyj

But if you move to a cheaper location, you don’t need to make the same money. You can live just as well if not better on less elsewhere.

Think about it, lower cost of living means you don’t need to make as much to live comfortably. That’s part of why we are bailing on SD and CA. We are buying a much larger home on a huge chunk of land for cash from the sale of our house here. So no mortgage payment for a start. Add in lower sales and income taxes, lower fuel costs, lower costs on everything else across the board, and I don’t need to make nearly as much or work nearly as hard as we did to live here. My plan is to get a part time 3 to 4 day a week gig and spend the rest of my time with my family and working our new property. Now THAT is quality of life. Not fighting traffic for 2 and a half hours a day and working 10 hour days 5 days a week and barely getting to see or spend time with my kids. You can have that.

For me, it wouldn't be living as well or better but we're all in unique situations. Personally, if I moved elsewhere to lower my cost of living but still had to work part time four days a week to make it, I wouldn't see that as a wash or "better". I'm already in a post-retirement p/t gig I do just for fun, with the bonus being I can wear shorts and a t-shirt comfortably in the middle of February. And I see my kids all the time and can enjoy outdoors with them. That has a lot of value to me personally.

[joosoon]

Originally Posted by JohnAlt

There's also the people reluctant to list (and show) their homes during the pandemic. That's been the main driver of how ridiculously low inventory became.

Is that really the major reason? Or is it that people are reluctant to make big decisions like selling a house or relocating with so much uncertainty in their lives because of the pandemic?

[Racer46]

Originally Posted by joosoon

Is that really the major reason? Or is it that people are reluctant to make big decisions like selling a house or relocating with so much uncertainty in their lives because of the pandemic?

Even if more chose to sell, would prices drop? Not likely as more people want to buy than sell right now, so the number of sellers would have to far exceed those who want to buy, to make any difference, and that is not likely to happen.

[JohnAlt]

Originally Posted by Racer46

Even if more chose to sell, would prices drop? Not likely as more people want to buy than sell right now, so the number of sellers would have to far exceed those who want to buy, to make any difference, and that is not likely to happen.

Any increase in inventory is more competition for sellers. They wouldn't have to "far exceed" buyers to change the current dynamic.