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La Jolla's home prices are the most expensive in the nation, according to Coldwell Banker's annual home price comparison index. The study measures home values for select 2,200-square-foot, single-family homes with four bedrooms, 2.5 baths, a family room and two-car garage. Such a home costs $1.842 million in La Jolla, down 2 percent from last year. In second place is Greenwich, Conn., at $1.787 million, down 11 percent. In third is Beverly Hills, $1.77 million, down 19 percent. Of the most expensive 20 locations, 13 are in California. Behind Beverly Hills in fourth through eighth place are Palo Alto ($1.74 million), Santa Monica ($1.65 million), Newport Beach ($1.55 million), and San Francisco ($1.51 million). Other California locales in the top 20 are San Mateo, Palos Verdes, San Jose, Fremont, Oakland, and Long Beach.

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Comments

a2zresource Sept. 10, 2008 @ 10:12 a.m.

We are truly fortunate to bask in the glow of such affluence.

Seriously.

While there have been extensive problems on many different economic fronts, especially housing, I generally agree with recent Greenspan's televised comments on how he can't figure out why the economy isn't doing worse than it is.

As long as La Jolla is doing so well, the Blue Line AKA Tijuana Trolley will still be full of early morning commuters from south of the border heading north so early in the morning, in their prime and proper service attire...

And the beat goes on.

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tirlem Sept. 10, 2008 @ 9:24 a.m.

This information should be sent to the UT real-estate news spinners: they may find a way to use this to confirm that SD real estate is "undervalued". On a more serious note: I have nothing against some real estate being astronomically high, but if it becomes the norm, as it is in California, then that indicates a concentration of wealth and holdings into the upper echelons of society. Add to that the fact that the economy has gone "hourglass" (though the two parts of the hourglass may not even be connected anymore) and you are approaching the economical models of Latin American countries between the 1920's and the 1990's. Such economies are characterized by boom and bust cycles: during the boom the rich get richer and the rest gets poorer, during the bust the rich still get richer and the poor become destitute.

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Don Bauder Sept. 10, 2008 @ 10:34 a.m.

Response to post #1: You are absolutely right: the distribution of wealth and income makes us more like countries such as Mexico and a handful of other third world countries. There are a few extremely rich at the top and people of low income and wealth in the bottom 50 percent. California has so many cities among the most expensive for housing because of both high income and excessive debt. When the debt bubble bursts, California will be hit hard. It is already happening. Best, Don Bauder

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Don Bauder Sept. 10, 2008 @ 1:09 p.m.

Response to post #2: The economy doesn't appear to be doing as poorly as Greenspan and others think it should. A lot of that, however, reflects the fact that statistics understate inflation. That is deliberate. It saves the government money on inflation-adjusted entitlement programs, and lulls the people to sleep. They think the economy is growing, when it really wouldn't be if inflation were properly stated. Best, Don Bauder

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Fred Williams Sept. 11, 2008 @ 11:26 a.m.

What's that old line?

"The rich get richer, the poor get children..."

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Don Bauder Sept. 11, 2008 @ 8:02 p.m.

Response to post #5: So true, Fred. Best, Don Bauder

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