Housing prices in SoCal are outrageous

I have spent this week roaming around San Diego. Great town. 1.1 million people. About 70 km from tip to tip (in comparative terms – the City of Moncton would have to include both Shediac and Salisbury to be as large in square kms). It’s a bilingual town. Spanish signs, radio, tv, everywhere.

But housing prices are just plain zany. According to a study out this week here, the percentage of households able to afford a median- priced home in the San Diego area stood at 9 percent in December. That means only 9% of families can afford the median priced home. Less than one in ten. It’s no wonder – the median price of a home in the San Diego area was $603,680 in December, down from $616,840 in November, but up from $577,040 in the year-ago period.

Now, to put that in context, I think the median priced home in Moncton is around $130,000.

This must be a benefit to living in Moncton. For those lucky enough to own just the median-priced home in San Diego – they could have a larger house in the best NB neighbourhoods and a cottage at the beach and money left over.

Of course, they wouldn’t be near to year round beaches and a temperature that averages 21-22 degrees year round.

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