[quote=esmith]Right now on Craigslist there are 23 listings of 3BR and 4BR houses and condos in Rancho Bernardo, and 12 listings in Rancho Penasquitos, under $2000. I think everyone will agree that MM is cheaper than both RB and RP.[/quote]

Since I work at UCSD I haven’t even looked into Rancho Bernardo or Rancho Penasquito — b/t the gas price and commute time, I decided it wasn’t worth it. I’m sure the students would consider it even less: most don’t have cars, the buses aren’t free that far, and they prefer to live close to other students.

Maybe rental prices are seasonable, but most of the MM rentals change hands in the summer and ask for 1-yr leases, as do most rental markets near universities.

Rentals are even more expensive in UTC (relative to their buying prices), we found a 2BR condo for just under $1800 and we count ourselves lucky. I’m really just amazed at the volume of units that appear on Craigslist daily (hard to estimate how many are new, say 30), and somehow or other they all get rented.

I wouldn’t be surprised if investors are also going after the UTC/La Jolla condo market. Certainly a lot of the more interesting listings I looked at went pending recently.