My prediction, I will hear this many more times in my lifetime.
I'm a little surprised only one other agent chose to answer this question. I saw it this morning but was going out the door and I return and only one person has answered, with a link to his website but no historical info on San Diego's development and no prolonged musings about what's to come.
My going out the door thoughts were that I moved to San Diego in 2006 as a result of my adult daughter joining the Navy after she was married with children. I came to help her with those first years of deployment. I moved in part because real estate in Florida had reached the pinnacle and the bubble had already burst.
What I've learned about the last 20-30 years of development in San Diego has been fascinating. Many things have been paralleled by cities on the East Coast which I am more familiar with. Urban decay and deterioration in the downtown area followed by a cycle of revival and revitalization. When I arrived, San Diego was still reeling from the realization of fiscal mismanagement and the ramifications of that. I remember looking at the hills, Point Loma, Mission Hills, Golden Hill, Bankers Hill, those leading up the 5 from Pacific Beach, LaJolla and beyond and thinking, are you kidding me, every hill is covered with property, the taxes should be plenty to cover the city's needs. Why are the water mains failing and hills sliding down due to water saturation? Why is there no storm water processing. What is going on here? Well, I've since learned that I don't know a lot about how San Diego developed and functions. But it does develop and function.
What I do know, is people flock here, the military is home and home is the military, surfers do know a little something about the soul of the ocean and the world and socal is just fine thank you very much.
Where to from here, is the implied question in Trulia's prompt. Specifically, where to in regards to the real estate market.
Quintisential Southern California will continue to be. If LaJolla is suffering from the recession no one has told them. If the 100 year old craftsman homes in North and South Park should be torn down buyers aren't rushing to do that. Instead San Diegans are continuing to be San Diegans. Compromises with everything continue to be made. Condo towers remain vacant, reducing prices in the most troubled buildings but continue to lure the Metroites who have two high tech incomes and an urge to go to Anthology on Saturday nights. San Diegans accept high housing costs for the trade off of low utilities and fresh produce and seafood, and an outdoor lifestyle.
I have friends all over the country, many in the north who have suffered below freezing temperatures, heavy snow fall and high winds. I keep telling them to come to San Diego and buy while the prices and interest rates are still relatively low. I know the demographics that indicate many people are leaving California for other states, but cycles cycle and as long as we have sun and ocean, a strong military and high tech jobs, I think we won't have to worry about shutting off the lights anytime soon. Purchasing real estate in San Diego is a good buy today and will be tomorrow.
Yeah, there's going to be lots of surprises, unless somebody already knows the exact future.