One, lots of the homes/condos out there now are empty. I’m not sure of the exact statistic, but i believe its between 20 and 30 percent. And there is a record amount of inventory for sale at the moment.
The inventory referred to here is real estate for sale, not all the existing houses in San Diego. What is being stated is that 20-30% of the houses up for sale are vacant. These houses are not second homes or vacation homes. These are houses with mortgages, property taxes, etc. that are costing their owners real money and are sitting vacant.
Such a high vacancy rate of inventory doesn’t indicate a housing shortage in San Diego.
