Why is Irvine considered affluent?

locolocal

locolocal

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http://www.latimes.com/business/la-fi-adv-bubble-prices-20140304,0,6106375.story#axzz2vmeO45Ul

Housing prices surpass bubble peak in some Southland ZIP Codes

Home prices in a dozen Southern California ZIP Codes have passed their peaks during the housing bubble, according to research firm DataQuick. Most are either in the San Gabriel Valley, a magnet for buyers from Asia, or on the Westside, where the technology industry is booming.

Of the 12 ZIP Codes where the non-inflation-adjusted median price has passed its bubble-era peak, six are in the San Gabriel Valley and one is in affluent Irvine. All are hubs for buyers from China looking to move to the U.S. or invest here.
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OpenSky said:
iacrenter said:
Which zip code in Irvine saw prices rise above peak levels?
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I hunted that article up and down to get the cited 12 zip codes. No dice, but maybe it's my eyes ?!
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I don't see it either, but I'm going to guess 92603.

And based on all the toxic land and landfill talk, I think they meant "flatulent".
 
The print article says zip code 92620. 

Bubble Peak (2006 Q2)  $835,000
4th quarter 2013 $851,000
Bottom (2011 Q4) $ 638,000

And for people who compare Irvine to San Marino:  median price in zip code 91108 for 4th quarter 2013 was $1,865,000.
 
Where is the member with his inflation adjustment explanations to justify the data in the article?

Irvine vs. San Marino?
San Marino is an animal all its own.  There are only a couple places I'd rather live in in Irvine than San Marino.  I think Test showed one of the houses in IHO's post.  There was a 5 CWG house in a neighborhood I wouldn't mind living in even when the house is on a "motorcourt"  :)

I personally really, really like San Marino and all the creature comforts of that small town.  My wife doesn't care for San Marino.  She likes palm trees and tract homes, haha.  :eek:

Article's data seems a bit bias with 92620 as there are many new homes being built since 2006.  Therefore, wouldn't that alter the data?

Just like when I see data for Foothill Ranch, it's pretty pointless to see "market trends with averages" when it could easily be swayed by having such a limited amount of data. 

Troller Simpson is becoming Irvine Hater #1?  Well at least he can say, "After owning houses in each of the neighborhoods from the period of 2013 to 2013, I can officially say that John's Creek is more pleasant than Irvine." 

 
San Marino population 10k vs Irvine population 200k.  It would be more accurate to compare San Marino to a single village within Irvine.
 
I was also going to mention San Marino or some parts of South Pas. 

San Marino is probably on the top of my list of where to purchase next.
 
Obviously Irvine is not in the same category as San Marino, Malibu, Coto, or Newport Beach but it should certainly be considered affluent.

Irvine has over 200,000 people in it and still has a very high per capital/household income.  There are many places in California with very high incomes but they are small compared to Irvine.
 
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