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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.

Comments
6

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.

Sept. 10, 2008

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.

Sept. 10, 2008

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

Sept. 10, 2008

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

Sept. 10, 2008

What's that old line?

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

Sept. 11, 2008

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

Sept. 11, 2008

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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