[quote=ibjames]How much has rent increased in that area in the last few years? Isn’t it a possibility that rents will decrease also?[/quote]

I can’t see rents decreasing substantially. There’s a large and stable student population from UCSD that needs housing. With worsening economy and rising inflation, students are more likely to cut cost by piling up in a big MM house instead of getting a 1BR apt or sharing a 2BR apt in UTC or La Jolla, thus increasing the rental pressure in MM. UCSD students can ride buses for free from MM to campus.