gwinner

Is the Long Commute Still Worth It?

At market peak, a new 3,500 sq. ft. home in Temecula was $600k to $800k. Now, they're 40 to 50 percent of that. In San Diego, they still cost $800k+. At market peak, gas cost was an issue because the delta in home costs was not as significant. Now, it is significant. You can buy "a lot" of gas for what you'll save. In fact, property tax savings and a Prius or Aptera (Google it, coming to a Socal highway near you) will financially justify the decision so you can pocket the $300k to $400k you save each month in financing the comparable home in San Diego.

Other family and personal issues are probably much bigger factors than gas prices in making a decision about living in San Diego vs. Temecula. The people who are hurting are those who bought in Temecula at market peak, have ballooning payments and are now also hit with higher gas prices.