All I can tell ya is that it is a nightmare downtown right now, at least for resale.

I sometimes wonder if San Diego is going to split into a two-tier housing situation. One were condos/townhomes directly compete with rental rates and the other were SFRs on individual lots (real lots) remain disconnected from underlying fundamentals.

Okay, they can’t remain disconnected from fundamentals indefinitely, however, in the short term 3, 5, maybe ten years, could the dissolution of the condo market become so prevasive, that ownership cannot compete against renting because of the transaction cost to off-load or the rising vacancy rate and subsequent and the perception that owning a condo is just throughing money away that you can never get back?

Hmm, maybe I’m jaded. I’ve done the townhome thing before, won’t do it again. The more I see the condo market imploding the more I’m focusing on SFRs only. I wonder how many others are doing the same?