June 10 (Bloomberg) — John Burns, Chief Executive Officer at John Burns Real Estate Consulting, discusses the influence of foreign buyers on California’s high-end real estate market and the distortion of the haves and have-nots in U.S. housing:
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Burns nailed it. Does San Diego qualify as a “direct flight” city for Chinese buyers or does it stop in Irvine?
When Obama delivered the UC Irvine commencement address over the weekend he flew into and out of Palm Springs.
The Chinese are not so constrained and seek only the best locations.
I interpreted that as a non-stop direct flight, which SD doesn’t have from Beijing. Only $1,440 through SFO though!
Well maybe in SD it is a more recent thing, but it was NEVER affordable to live near the coast in SoCal (at least in LA)
You had to look inland and expect to commute to work when you bought your first home.
and in 1980 it was incredibly hard to find a decent Job.
I remember TV news saying almost every night how hard it was to buy a home and how much commuting was taking a toll on workers.
When was this,,,, 1985