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Don't do it. Wait 2-3 years at least before you do something like that.
It is a bad investment.
Prices are going to crash there. Most people who got in to homes there during the last few years are on these ARM loans, and they haven't reset for the most part. Once they do reset, the homeowners (who are NOT high-income earners) are not going to be able to afford them and it will be forecloseuretown.
Plus- unlike San Diego- there is still plenty of land left to build on... And lots of homebuilder supply left to sell...
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