I was at the post office today and happened to mention I was sending some information about homes in San Diego to an interested buyer in another state. I wear my Coldwell Banker badge everywhere, you just never know. One of the postal workers asked me the normal question “So how is the market?”. I didn’t even hesitate when I responded BUSY. She was surprised.
As most of us, she had heard all the bad news from the media that housing was still in the dumps and the economy is still black. I am here to tell you that I am so encouraged by the market today. Gone are the days when only 12% of workers could afford the average home. Gone are the days when if you were breathing you could get a mortgage, even if you couldn’t afford to feed your family. Gone are the days when even a shack cost more than 10 years of income for many buyers. Frankly, good riddance.
Now homes, even in expensive San Diego, are affordable to almost 50% of the residents. Now mortgages are given to people who can actually pay the mortgage and buy groceries. Now even school teachers, police officers and firemen/firewomen can live in the same neighborhoods they serve. I am not saying there aren’t some challenges in home buying, but I am pleased to report that great people and families can once again enjoy homeownership and I for one am celebrating the state of the market.