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Housing at $495,000: A worry for San Diegans?

EconoMeter panel considers implications of rising home prices

Roger Showley, SAN DIEGO UNION-TRIBUNE

Friday, August 19, 2016

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Kelly Cunningham

 

Kelly Cunningham, National University System

Answer: YES

Other than those selling their home and moving out of San Diego, we should be concerned by high, unaffordable housing prices. Among the nation’s largest metro areas, only New York and Los Angeles rival San Diego in spending the highest portion of income on housing, greater than San Francisco where housing prices are much higher but incomes are also higher. For those wanting to live here, housing costs crowd out other spending for food, apparel, recreation, education.