[quote=flu]Anyone else think the recent runup in rental demands, especially for the 1/1 and 2/2’s is partly due to a bunch of people finding jobs and no longer living in the same house with their parents? Just wondering…[/quote]
I think it’s due to the combination of strong job growth (3.1% in 2014) and lack of new housing units in the region.
“Data for housing units, released just before the beginning of the Memorial Day weekend, show that while San Diego County grew by 159,000 people between 2010 and 2014, only 22,000 housing units were added.
The pace of building picked up between 2013 and 2014, but the Census Bureau counted only 8,000 more housing units while the population grew by 41,000. That works out to approximately five new residents for every new housing unit.”
“.. Since April 2014, the region has added 40,900 people to payrolls, good for 3.1 percent annual growth . That rate puts San Diego County’s pace above Los Angeles County, the state and the nation,…”
