Comments on: A looming housing shortage in San Diego?

By: Steve Berg

Steve Berg — Sat, 15 Aug 2009 20:21:10 +0000

Thanks, Jakob. It will be interesting to see how this plays out. As Jeffrey correctly pointed out, any prediction beyond two days can be dicey. At the same time, five years can go fast when one is looking backward.

By: Jakob

Jakob — Fri, 14 Aug 2009 18:10:43 +0000

Great post, Steve. Maybe it’s because I’m a homeowner that I’m starting to agree with you, haha.

I too have been watching the population numbers. It’s really impressive how fast SD is continuing to accumulate people. That to me is the single reason to be bullish on housing prices. Can’t beat the perfect climate!

As far as land, out here in East County, there is still plenty of undeveloped land. I’m sitting on 3 acres I got for a song only 20 miles from the coast. There is thousands of acres of land still undeveloped around here in Lakeside and Santee, which will soon be made much more accessible by the 52 extension opening next year.

By: Terry Farrell

Terry Farrell — Thu, 13 Aug 2009 21:33:44 +0000

Just wanted to compliment Kris on her article in Inman news. Fortunate to have attended Connect in the past but not so this year. I am headed to Chicago for the RE/MAX Broker-Owner conference tomorrow. Spent some time in Carlsbad for mentor training with Buffini and other time in San Diego proper for several RE/MAX meetings when our membership was smaller.
I particularly liked Kris’ comment re: interested vs. interesting. Working hard to be interested in Kansas City at http://www.remax-best-kc.com/blog/terry – definitely a work in progress

By: Jeffrey Douglass

Jeffrey Douglass — Thu, 13 Aug 2009 21:07:44 +0000

Steve,

Predicting anything over about 2 weeks is dicey at best, but its fun to try and good to give us a bit less reactive perspective, and a much better view than the foxhole we are in.

Real estate is about cycles.

By: Steve Berg

Steve Berg — Thu, 13 Aug 2009 17:50:07 +0000

Jeffrey – Thanks for the comment. I agree that inflation, as well as interest rates will likely be a factor in the future. Downtown is more unique due to the urban/cosmopolitan nature attracting more empty nesters and younger couples, rather than the family with kids (In many, but not all cases).

After the extreme magnitude of the recent cycle adjustment, I think many people, including myself, get caught up looking ahead in the short term. I was a bit paranoid trying to look out five years (But Kris pushed me into it).

By: Jeffrey Douglass

Jeffrey Douglass — Thu, 13 Aug 2009 14:37:47 +0000

Steve, Glad to see someone is looking beyond our current markets. I agree with you that San Diego will have some supply issues in the not so far off future, and of course many of us think that inflation may also be an issue.

Downtown as you mentioned will take a bit longer due to some overbuilding, but I expect this to clear up sooner than many expect as more people look to the urban lifestyle.