The best part of attractive pricing is that it helps to weather the demand dynamics. We’re not going to get the 22 offers we got last week, but 100+ people have seen the home, and offer #4 just arrived.
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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You may be right about LCV Jim. I know many original owners who have said for years now that they aren’t going anywhere. Most have held to their word so far despite their kids moving away and they are now transitioning into being absentee grandparents.
We’ll see what happens as more and more of the NextGen kids cannot afford the area and move away. Kind of a bummer if you ask me. Check out the new enrollment at the LCV elementary school El Camino Creek – projected only 1 kindergarten class next year, not the 3 or 4 that they had not so long ago. Young families can’t afford the area, not even the older surrounding neighborhoods.
Thanks Gekko, and the one kindergarten class at ECC is a stark reflection. We should change the name from LCV to Empty-Nester Valley!
La Costa Valley Annual Sales:
2003: 84
2005: 67
2007: 38
2009: 34
2011: 27
2013: 51
2015: 57
2017: 42
2019: 43
2020: 41
2021: 46
2022: 23
2023: 4 so far
Globally, the number of people older than 80 is expected to increase sixfold by 2100. Meanwhile, the population of children 5 and younger will get halved. We’re facing not only a population decline, but also degradation — too many old people and not enough young people. To register the tectonic nature of this shift in our culture, imagine a world with six times as many (potential) grandparents and half as many grandkids.
This is what happens when you inflate real estate and financial assets with unearned money.
A deliberate policy of punishing savers and rewarding debtors has been in place since 2000 by artificially keeping interest rates low.
The result is that people have become debt slaves and stopped having kids.
It’s the economic crime of the century that will have tremendous consequences no one can foresee yet.
Debauching the currency is a sure way to demoralize and destroy the basis of the society.
Houses should have never become speculating assets.
I know of at least three couples with decent paying jobs that would love to have kids but simply can’t afford to. It’s an absolute shame.
Don’t discount the fact that young parents also have money and are sending their kids to private schools or home schooling. Many are not happy with what is going on in the public schools. I personally know of several families.