Quote:
Originally Posted by biosurfer1
When I moved into the neighborhood in 2016, houses were going for $500-650k and I remember specifically telling my wife that if things continued at a typical pace, our house might be worth $1 million by the time we retired in 20 years.
Just blows my mind that less than 5 years later houses are in the $850-$1 million range already. Didn't think even the craziest estimates would almost have us there so fast.
As for the current owners, the husband mentioned they found a place to rent in Cardiff for the time being (until they find a home to buy) for $5500/month. Never been to Cardiff and have no clue if thats a good price or not but I agree, no matter where they go now, prices there will likely be just as crazy!
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Cardiff is the small, quaint, coastal town north of the city of San Diego. I can see myself living there. Shorts and Tee shirt though out the year. One thing, its not exactly cheap there. I say 5k per month is not out of the question and I bet that's not ocean front neither.
I think CA real estate jumped 20% in the past year or two in our larger cities. I sure hope those who left the rat race of city to live in the suburbs around here know what they are getting themselves into and that they can never go back. I was yapping with my agent down in the City of Torrance. 25% of her buyers are looking for larger homes out in Palmdale or Landcaster (the high desert) due to working remotely. Can we really work remotely? Torrance have a bunch of engineering aerospace engineering firms and head quarters.