Global markets uncertain San Diego housing more stable

George Lorimer
Wednesday, August 7, 2024
Global markets uncertain San Diego housing more stable

With all the uncertainty in the financial markets, how about investing in San Diego real estate? Either a bigger home or an investment property.

 

In the last five years, from 2019 to now, the median home price in San Diego has increased from $575,000 in July 2019 to $895,000 in July 2024. That is $320,000 in equity in five years or a 9.25% appreciation rate.

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If this holds and San Diego home prices continue to appreciate at 9.25%, what is purchased for $895,00 could be worth $1,393,000 in five years.

If it goes up only 5% versus 9.25% yearly, it could be worth $1,142,266 in 5 years.

And you need somewhere to live and a hedge against inflation.

There is something called positive leverage, which means that if the appreciation 9.25% than the cost of money 6.125%, it is positive leverage, and your return on investment is higher than that appreciation rate. 

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If you’d like to discuss buying a home, investing in an investment property, or 1031-exchanging into a more profitable property, or selling a home, call or text me for a free consultation*.

George Lorimer, MBA

619-846-1244

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ProWest Properties, DRE# 01146839, For any investment advice, seek counsel from an attorney, CPA, or investment advisor, *Conditions apply for all programs.


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