Rising home prices have sparked concerns of another housing bubble. But while San Diego housing is unusually expensive, it hasn’t reached bubble-like extremes in two key areas.
In this week’s San Diego Explained, NBC 7’s Monica Dean and Voice of San Diego’s Maya Srikrishnan describe some of the solutions politicians are proposing to ease the housing crisis.
On this week’s show, housing market analyst talks about why home prices are high but home payments might not be, and Union-Tribune reporter Lyndsay Winkley sheds light and context on the city’s rising murder rate.
California cities that are rich in home equity, such as San Francisco and San Jose, are also great places for start-ups. The recent spike in home prices in San Diego may be contributing to a faster growth in start-ups here.
From the 2009 home-price low right through the end of last year, cheaper homes have made much bigger price gains — the mirror image of the losses incurred during the housing crash.
San Diego homes are now about as expensive as they were at 1979 and 1990 valuation peaks. Valuations are still well below the levels reached during the last decade, however, and San Diego housing doesn’t appear to qualify as a “bubble.”
San Diego home prices as measured by the Case-Shiller index declined in January, leaving the mid-priced and high-priced tiers at new post-bubble lows.
These were the most-read stories for the week of Feb. 27-March 5.
San Diego home prices, as measured by the most reliable price index, declined in December again to end the year with a modest loss.
These were the most-read stories for the week of Feb. 20-26.