We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
Rising taxes and declining real wages.
The jobs we’re creating now don’t have the wages or wage growth to support the cost of carry, even with 2 income households.
Bubble might not pop in 2008 fashion, but if you think there will be a bigger, qualified pool of buyers 5-10-15 years from now you’re on the wrong side of the curve.
I don’t know about that.
It was similar 8 years when we looked forward to today.
San Diego home prices were already de-coupling from wages…..and the NSDCC median sales price was $839,000 in March, 2013!
It has more than doubled!
Population growth and generational transfers of money could keep it going.
A skyrocketing stock market could also keep real estate going. People cashing out their paper gains for real assets, like real estate. You can’t live in your Amazon stock.
You could also have people cashing out their Bitcoin gains for real assets too.
I’ve said it before on this site: San Diego is a worldwide real estate market. As long as Chinese, Saudis, Russians, etcetera have the money, they’ll keep the market afloat. Local wages are not THE key factor in judging SD affordability
This seems like a product of central banks across the world monetizing debt (the only way we can sustain endless spending) and the related inflation across all asset classes. Equities, housing, bitcoin, lumber, etc. etc. are either in a “bubble” or the dollar is being devalued at a rapid pace.
The unbridled enthusiasm is the warning bell for me. Low-interest rates don’t solve the cost of carry.
An international market that doesn’t have housing the local population can afford looks like DTLA.
Homeless drug camps next to million-dollar condos. Not good for anyone.
We are where Vancouver was several years ago. Look it up.