Downtown has two sets of forces, the progressive and regressive. On the one side, alot of money has been invested in downtown, both in the ballpark, and in all the condos being built. On the other is the low end element that has been there all along. I think what we are seeing is that downtown is balancing on a fulcrum. It doesn’t really have a draw for most yet, but it could. The question seems to be two fold. What would be the fulcrum for a large enough group to keep the condos from all reverting to low end rentals. The second part is that since we are most likely coming into recession, will those forces align to break the downtown out of the mold in which is currently locked?
As an aside I don’t see myself really living down there either. Its too cramped most places and even if things do get cheaper there, they will probably be cheaper in places I would rather live. I have too much a San Diego lifestyle. 5 dollar gas might get me there though!
