All time high reached in January for Median home prices. Likely to continue climbing (San Diego: rental, homes)

[JoeSanDiegoHomes]

These graphs go back three years, so we have a little view pre-pandemic.
You will noticed that I made a highlight at January of each year. We typically see a a fairly steady increase in price in the first part of the year that peaks late summer/fall. You will see the correlation as well with percent of asking typically increasing steadily as we exit winter.

I am now doing a 90ish second market wrap on insta and YouTube if you want a few more high or low points, depending on how you see it.
https://youtu.be/RNsWy4Jy0og

[stablegenius]

I’ve seen some people on here think a crash of 50% is coming

[hitman619]

Wait till those interest rates start to Go up. I see a level off but prices are never going back down. As far as housing, San Diego is becoming the Bay Area

[joosoon]

Originally Posted by stablegenius

I’ve seen some people on here think a crash of 50% is coming

I'd refi and buy another place if that happens.
I have 100% confidence that it would all come back and then some. Anyone in it for the long term knows this.

[stablegenius]

Originally Posted by hitman619

Wait till those interest rates start to Go up. I see a level off but prices are never going back down. As far as housing, San Diego is becoming the Bay Area

Quite literally because Bay Area people are moving down with their remote jobs and huge salaries.

Originally Posted by joosoon

I'd refi and buy another place if that happens.
I have 100% confidence that it would all come back and then some. Anyone in it for the long term knows this.

I totally agree hopefully prices on homes go down but rent hold so I can rent my place and buy another.

[SDSurfer3]

SD will be at a million soon.

[GuyInSD]

Originally Posted by joosoon

I'd refi and buy another place if that happens.
I have 100% confidence that it would all come back and then some. Anyone in it for the long term knows this.

yup - that's what I did back in 2008; if I could, I would have bought more in 2012 - the places I was eyeballing at that time have since tripled in price (with a 25% downpayment for a rental property, that would mean 12X on the original investment, not to mention ten years of rental income).

[Frac]

Originally Posted by joosoon

I'd refi and buy another place if that happens.
I have 100% confidence that it would all come back and then some. Anyone in it for the long term knows this.

Demographics and other organic factors do not imply that it would bounce back and then make new highs. The growth of this current RE market is due in large part to investors (not just big funds, but people taking on a 2nd home as a rental property). A sustainable market would not be driven by investors who can be fickle.

[1AngryTaxPayer]

Queue the entitled that were born here and can't afford it. It's old people's fault.

[NYSD1995]

Assuming a 50% decline I would pick up another rental property, I certainly can't be alone in that regard.