San Diego: Welcome to Bubbleland, USA.
From the Kansas City Star:
Link
Here on vacation, my bride and I were wandering around this quaint tourist village across the bay from downtown San Diego when we came across a cute little house a couple of blocks off the beach.
...
And, it's for sale.
The temptation was simply too much for a veteran open house junkie such as your faithful correspondent. I sidled up the sidewalk and pulled the offering sheet.
The asking price: $3.5 million.
It was enough to make us glad we live in Kansas City, where we live in a bigger, more distinctive house for which we paid way less than one-tenth the price of the Coronado house.
Link
8 Comments:
At 11:22 AM,
Sunbelt said…
in response to the wholesome yet misdirected midwesterners that recently visited Coronado, I must say 'You are not in Kansas anymore.' Communities such as Coronado (La Jolla, Rancho Santa Fe, Laguna, Monte Carlo, etc.) opperate somewhat outside the realm of conventional real estate. You are not buying shelter so much as you are buying prestige. Prestige is a funny thing, it is all based on perception and the perception of these areas (San Diego in a general sense included) is of exclusivity. Limited space and an ocean of retiring boomers wanting to spend the rest of their days in the sun or foreign individuals bringng their stronger currency into our markets. comparing the geographically limited area of San Diego to that of midwestern cities is a fools errand. The relative lack of barriers to development will always keep housing prices low in the midwest while the steep barriers here will keep our prices higher. There will always be individuals willing to sacrifice sq. ft. to live here. I acknowledge and believe that our unprecedented appreciation will not continue, however a crash or 'burst' is unlikely.
At 5:45 PM,
Clickbank Mall said…
Come Visit Santa at his blog and tell him what you want for Christmas,
At 6:49 PM,
The Truth said…
Oh, Toto, I had a dream, and even Auntie M was there. My poor poor mid-western friend. Ah Kansas drove through there once, and that was enough. Colby Kansas, Kansas City. Well, there's a reason why I paid $480 for 1575sq. ft. Three blocks from the beach and didn't move to Nebraska or Omaha and buy a mansion for the money, and that is because quite frankly, it sucks over there. There is a reason why my house has gone up to 535 in less than a year, and that is, because of perception of cost, limited land to develop on the coast and sunshine. I laid out by the pool this weekend and got a "mild" sunburn, the East is covered in snow. Everybody I know out here is from one of those God awful dairy states selling the farm to move out here.
At 3:31 PM,
Pete said…
Location, Location, Location - till someone nasty moves in next door or the neighborhood turns bad or the government decides to have construction on your street for a few years! - Or worse a new freeway blocks away!! Yea prices can and will go up and down depending on many things.
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At 6:57 PM,
sb322 said…
LOOSE NUKES IN USA
This week we learned that on August 30 the United States Air Force flew a B-52, locked and loaded with nuclear warheads, from North Dakota to Louisiana. This broke a military policy going back to the 1960s against such flights.
There is a still more dreadful prospect though. Our "unitary executive" may be threatening or preparing a strike against us, the unruly and now war weary American People who are the greatest impediment to the Neocon New American Century plan. It used to be that only the 911 Truth community would entertain the idea that the next 911, the "911-2B" attack, could come from our own government. However, a recent spate of Bush administration pronouncements that we are due for such an attack has made it apparent to many other Americans that Bush would welcome a 911-2B event -- or might even arrange one
http://www.globalresearch.ca/index.php?context=va&aid=6749
----------------------------------
Why was a nuclear-armed bomber allowed to fly over the US?
Wednesday’s revelation that a US Air Force B-52 bomber flew over the length of the United States armed with six cruise missiles carrying nuclear warheads has attracted amazingly little media attention.
RUMOR: Within intelligence circles there are rumors that the munitions airmen acting on their own without orders, disconnected the powersuppy to each of the missiles prior to mounting them on the B52's pylons. This act prevented the onboard missile computers from being overridden from the ground and launched remotely [out of the control of the B52 pilots].
http://www.globalresearch.ca/index.php?context=va&aid=6723
At 8:13 PM,
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At 2:49 PM,
Stivel Velasquez said…
I started house shopping in March of this year, and I don’t know if I was more shocked or depressed. (”Shockpressed” perhaps ?) However you want to describe it, I was bummed. My husband and I sold our home in April of 2005, not to take advantage of the rising market, but to facilitate a job transfer that march madness we decided not to take. Having sold our home out from under ourselves, we needed something quickly and decided to rent for a year. Our lease was due to be up at the end of April, and we thought it was time to find a home to purchase. I was astounded at the prices, and decided I needed to find a bargain.
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