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Looking For A Home In San Diego? It Will Cost You

Posted by: Christian Madera
Thanks to: Christian Peralta
18 June 2004 - 9:00am

The median home price in the seventh largest city in the U.S. reached $500,000 last month.

"Fueled by fears of rising interest rates, a growing job market and a persistent lack of supply, the overall median price of San Diego County homes rose 21 percent from May 2003 to a new record last month of $454,000, according to figures released yesterday by DataQuick Information Systems." The median home price for existing homes surpassed $500,000. While some real estate professionals believe rising interest rates will help to soften the market, many home buyers have forsaken their dreams of home ownership.

Full Story: $500,000 – For Many, House Hunt Becomes Scary, Demoralizing
Source: The San Diego Union-Tribune, June 16, 2004
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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