Downtown condos may become the cheap rentals in San Diego’s future (even though there’s no front yard to park the 5th vehicle in) – caveat emptor
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I am thinking of this scenario:
Developers got the bank loans to build the high rise. Once they start building, there is no turning back. They have to finish it. Then loan default and bank got the building. Since it is a huge building, it is hard for them to auction off. Most likely they have to keep it and wait for the market to recover. If this scenario plays out, there will no rental flood.
