Category: Money

Photo by Joe WilcoxNov 26, 202310:10 pm

Live at Winslow?

Opening of the 379-unit apartment building—along Park Blvd between El Cajon and Meade—continues to reverberate across my neighborhood of University Heights and nearby Hillcrest and North Park. Winslow’s rentals reset the comparative market rate—a term that I loathe—that other landlords would use to charge their tenants, exiting or new, more.

Another impact is the building, which fills one full block and dramatically changes the character of that stretch of Park Blvd. The residential complex, and other newer multi-unit structures, also increase congestion and traffic—oh, let’s not forget competition for parking spots.

Photo by Joe WilcoxOct 20, 202310:08 pm

Now That’s Frightening

Welcome to another blast from the past. I captured the Feature Image on this date in 2012, using Galaxy Nexus, which was codeveloped by Google and Samsung and manufactured by the latter company. Vitals: f/2.75, ISO 50, 1/115 sec, 3.43mm; 3:40 p.m. PDT.

Location: Monroe, between Cleveland and Maryland, in University Heights. The property is good measurement of San Diego’s changing housing market. The place sold for $520,000 in June 2011. The family living there moved to a larger home and put this place on the market, where it went for $617,500 in September 2013.

Photo by Joe WilcoxOct 18, 202310:51 pm

The Most Unaffordable City

San Diego is too prestigious a place. In July 2023, rents exceeded San Francisco. Yikes! Last month, the median-selling price for residences (houses and more) topped $1 million. The city earns yet another distinction: U.S. News & World Report has crowned San Diego as “#1 in most expensive places to live”. Uh, yeah.

Los Angeles is second; broadly, California cities capture seven spots in the top ten. Oh joy. I marvel at how suddenly—catastrophically—was the transition from, quoting the motto, “America’s finest city” to America’s most unaffordable place to live. Four years ago, food, sundries, and housing cost so much less.

Photo by Joe WilcoxOct 15, 202310:25 pm

Sixteen Years Ago Today

On Oct. 15, 2007, the Wilcox family arrived in San Diego from the Washington, D.C.-metro area. Within days, I began to understand the character of Communist California Culture and regret relocating. But we came to assist my aged father-in-law, so that he might maintain freedom to live in his apartment, which he did until passing away there at age 95 in January 2017.

My wife and I talked about returning to the East Coast almost immediately after her dad’s death. But our only child (an adult, by then) was attached to Southern California, and she wasn’t ready for us to leave her. We stayed—or shall I say overstayed—our time here. San Diego has changed all too much in terrible ways—almost all brought about by state and/or local mandates.

Photo by Joe WilcoxSep 22, 202310:12 pm

The Winslow at Night

University Heights’ biggest, newest apartment complex—with 379 units—is anything but affordable housing. Rentals at the Winslow start at $2,400 for a 484-square-foot studio and go up to $5,945 for 1300-sq-ft apartment with two bedrooms and baths. San Diego officials propagate the myth that building more residences will decrease housing costs and therefore increase availability across lower income brackets.

But the opposite is reality: As newer complexes open, higher rents go with them, lifting the so-called “market rate” that other landlords watch as measure for what they charge their tenants. More is more, meaning rents rise with the new builds raised.

Photo by Joe WilcoxSep 16, 20239:17 pm

Six Dollar Gas Returns

Yikes! When I walked by my local Valero two days ago, price per gallon held steady at godawful $5.50—as when I filled up on Sept. 10, 2023. The Featured Image tells the story: 50-cent increase to, gasp, six bucks a gallon! This is typically a bargain station, too.

The photo comes from Samsung Galaxy S23 Ultra. Vitals: f/2.4, ISO 250, 1/30 sec, 70mm (film equivalent); 7:57 p.m. PDT.

Photo by Joe WilcoxSep 12, 202310:46 pm

Housing’s New Selling High is a Low Blow for San Diego

In July 2017, when we were home shopping, I started to monitor—and occasionally write about—the local housing market. The next month, countywide, median price for a single-family residence reached $610,000, according to San Diego Association of Realtors. Fast-forward six years and $1,025,000 is median, according to SDAR, which released the data yesterday.

By my quick math, that’s a 68-percent increase, which makes homeownership an outstanding investment for anyone owning before SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)/COVID-19 lockdowns in early 2020 or increased interest rates this year and last. For anyone else not fairly wealthy, the choices are rent, move, or live on the streets—something of an increasingly common lifestyle.

Photo by Joe WilcoxSep 9, 20239:48 pm

Drives Me Crazy

I can’t complain about the weather, because inland San Diego County scorched today. Here in University Heights, which is closer to the coast, temperature reached toasty 30.5 degrees Celsius (87 Fahrenheit). As I write, it’s cooler 25 C (77 F) and best reason for the evening walk recently completed.

For days, I meant to document gasoline prices on the rise, after something of a decline that nevertheless was ghastly high compared to other states. According to AAA, the national average, as of this very day, is $3.83 per gallon. What a break. My local station at El Cajon Blvd and Texas Street is only $1.77 higher. Average for all California is $5.41 per gallon, which, by the way, is highest price for any state—even Alaska and Hawaii.

Money by Joe WilcoxAug 8, 202310:23 pm

Behave Yourself, or Else

Unless mistaken, I never shared the Featured Image—although that was my intention and mistaken belief having done so; ages ago. But here we are with no searchable evidence that you have seen this one, which is among the last taken with iPhone 13 Pro. In mid-December 2022, I returned to Android via Samsung Galaxy S22 Ultra.

The “Code of Conduct” sign was, and may still be, nearby Bloomingdales on the upper level of San Diego’s Fashion Valley Mall. “No weapons” means that I break the rules every visit—and, until now, without knowing. Yup, I carry a pocket knife. Quick, call the security guards! The tiny thing cuts paper pretty well. Occasionally.

Photo by Joe WilcoxAug 3, 20239:17 pm

Big, Possibly Temporary, Win for Single Family Homeowners

Today, San Diego Planning Commission unanimously approved Housing Action Package 2.0, which further eases development and redevelopment of properties to increase population density (real intention versus stated objective of creating more affordable housing).

But, the most controversial portion, which had garnered protests for and against, stalled: California State Bill No. 10, which became law last year. Localities choose whether to adopt the provision, which would essentially enable eradicating portions of single-family neighborhoods for the construction of up to 10-unit residences on as little as a single lot. Location must be in a “transit-rich area”, which is a bit misleading. According to the bill, that “means a parcel within one-half mile of a major transit stop” (e.g., city bus).

Photo by Joe WilcoxJul 20, 202310:44 pm

Thinking About Moving?

Anyone not battened down with an exceptionally good-paying job or affordable home ownership should be thinking about fleeing from San Diego. My wife and I talk about doing so every day—not nearly but with certainty every. Rents rocket and home prices are beyond escape velocity.

According to Zillow, the city ranks third nationwide for highest average rents—behind New York and ahead of San Francisco. Yikes! Point2 crunches home prices, and you’ll need binoculars to see how high they are. Among the 30 largest U.S. cities, San Diego ranks fourth for the number of listings above $1 million (58.6 percent). Median home price: $910,000.

Photo by Joe WilcoxJul 13, 202310:51 pm

Our First Wayfair Purchase Will Be the Last

When our daughter moved in with us on April 11, 2023, my wife and I had decided that an affordable, no-nonsense sleeper-sofa was needed. Our girl, who was recovering from a traumatic brain injury, would be moving into my home office and using the spare bed. Because of my snoring, Annie and I may sleep separately. We only have two beds. Need demanded another, and couch convertible seemed sensible enough choice.

Additionally, our daughter would arrive wheel-chair dependent, and she would be a fall risk. Someone snoozing in the living room could keep somewhat extra vigil, should she be injured moving, or wheeling, about. Some shopping online later, Annie and I chose the Mercury Row Villatoro 66.1″ Armless Sofa Bed Sofa, from Wayfair, for $183.16 including sales tax on April 3. We were more than satisfied with the choice—until today.