patrick.net

if rates in 1998 were in the 10% …

For your future reference, the rate was 7% pretty much standard. 30 year fixed rate.

Your timing of 2009/10 is right in line with my thinking.

Space, that's an interesting notion, but I see the opposite. San Fransisco has consistently been more expensive than San Diego, and you guys up there have a severe space shortage. As depressing as all the development has been we still have lots of space to build.

SF yes... but the city has had more construction over the past few years now..
Lots of towers going up and new develpment in many pockets of the city., I t was surpising to me as well.

South Bay - not the same story since there is plenty of land and rezoning very easy since we have so many vacant commerical land since 2000. Where you had Anti-Growth city ordiances now development is welcomed.

As I recall Socal is the one with more expensive homes... infact I recall reading how NoCal cities surpassing prices in 2001-02 from CAR web site.

I must say San Diego would be much nicer than Palo Alto... or even Santa Barbara better than places here .... yet prices did surpass without much real reason.... I mean were do I park my yaht??? We dont even have a Ferrari store around here...

Malcolm,

In case you didn't know, 'the city' in Different Sean's case is Sydney, Australia.

I was in Tijuana a few weeks ago, and I can tell you, that is a city on the verge of a famine if there is any disruption to their water. That is absolutely a disaster waiting to happen. Their infrastructure is literally at the breaking point.

Thanks for the update on Pt Loma, nice to talk to someone who knows of what they speak. The EPA had given San Diego a waiver on the untreated sewage because it goes quite far out but I guess you have done some current research on the issue. I don't share your concern on the aquaduct. I don't really know how you can do more than disrupt it with anything smaller than a nuke. I would think no terrorist damage could do more than a week's worth of work to one of those. They are actually pretty amazing structures. Miramar, Lake Hodges, and San Vicente can easily sustain us for months on their own with drastic rationing.

I do agree on a desal plant. I'm surprised we don't just build one next to San Onofre but I suspect there already is one there for the base. In any case, it is the logical way to go, and when it is all done it would shut a lot of people up. I'm a little tired of constantly living with some political crisis like we are going to run out of water.

Everybody in CA is stealing water from the ocean.

What percentage of asking price qualifies an offer as a “lowball?”

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