[quote=spdrun]I have to say that you’re wrong. Maybe for SFH properties, but condos built in the 60s through 90s also fell hard.[/quote]That’s because of too many units in one complex which were rented causing would-be buyers difficulty in obtaining financing.

The older condo complexes in SD County appeal to 1st time buyers who don’t want to pay Mello Roos and (usually) first-time individual investors for the same reason. Both of these types of buyers typically need mortgage financing as they don’t have the funds to pay all cash.

It’s different in LA County. Since there are few to zero newer condo complexes there (newer than about ’86 to ’92, depending on city), investors of all stripes (including many thousands of foreign investors) typically purchase older condo units for all cash and then go in and do a light rehab (if needed) after COE and before advertising them them for rent. Typical upgrades are bathroom tile, new countertops in kitchen/baths, laminate flooring and wood-look window blinds … stuff that is easy to clean and appeals to everyone.