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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (16730)	5/12/2005 3:04:09 AM
From: manalagi	Read Replies (1) \| Respond to of 361324

There is no way that the residential real estate in San Diego will collapse. The latest issue of MONEY magazine has a cover story about real estate investment. San Diego is mentioned as one of the hottest market. I feel sorry for the new generation, especially those who will graduate this June and entering the job market for the first time. I helped my son with down payment for a house two years ago, and his house appreciated 50+% which enabled him to move to a new brand new house in a decent neighborhood. The price tag: a cool $ 1 MM! He and his wife have good paying jobs and yet still just get by to pay the mortgage. If we did not help him with the downpayment for his first house, he would not be able to afford his new house. As they say, God does not make new land. As a matter of fact the amount of land is decreasing. Granted that the Netherland reclaimed the water surrounding her and built houses. That happened several decades ago. And yet recently tsunami caused land to be under water. Yangzte river in China will be diverted to the northern part of China for supplying fresh water to dry areas, and that will have villages to be under water and gone forever. Projected completion in 2009. Right now El Centro is starting to become booming town with many new housing development. The city is 110 miles east of San Diego and yet people are willing to move there even though the weather is really hot in the summer. The main reason is people can still afford house prices in the $ 250K+.