San Diego Real Estate: BUY or SELL in 2021?

Record-high home prices! Insane appreciation! San Diego home buyers and real estate investors in 2021 want to know: is now the right time to buy? Or is San Diego, and the rest of California's Housing Market, in a big bubble that is about to crash?

The typical price of a home across the San Diego metro is a whopping $715k according to Zillow - the 5th highest of any large city in the US. That price is a ridiculous 2x higher than 10 years ago and 4x higher than 25 years ago. These sky-high prices are leaving many home buyers and apartment investors unable to afford San Diego real estate.

A similar thing happened in the mid-2000s, when escalating prices resulted in many people leaving San Diego for cheaper cities. The result was that by 2006 real estate prices and outward migration both hit a record high. Of course, we all know what happened next.

Home prices in San Diego CRASHED by 30-40% over the next five years. Many households were foreclosed on and many apartment investors were completely wiped out. A similar scenario occurred in other coastal California cities such as Los Angeles, San Francisco, and San Jose.

History could be repeating itself in 2021, with once again San Diego experiencing record prices and outmigration. Is another crash around the corner?

One big difference between 2021 and the mid-2000s is housing supply. San Diego has a big housing shortage currently, only producing about 3,000 new single-family homes per year across a metro with over 3 million people. These figures are about 70% lower than what was being produced prior to the last crash. This means that if San Diego real estate does dip, the downturn likely won't be as severe as it was before.

The most expensive parts of town include La Jolla, Del Mar, Solana Beach, and Rancho Santa Fe. Home prices in these neighborhoods are in the millions. The most affordable parts are Southeast of Downtown: Encanto, Paradise Valley, National City, and Chula Vista.

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0:00 Another Deep Dive
1:52 San Diego is Expensive!
3:47 2008 Housing Crash
5:50 Return to Appreciation
7:05 People are Leaving!
10:37 Perpetual Housing Shortage
12:48 Next Crash: -20% Declines?
14:33 Prices by ZIP Code
18:06 Where is the Appreciation?
21:04 How to Avoid the Bubble?

Видео San Diego Real Estate: BUY or SELL in 2021? канала Reventure Consulting