Believe it or not, there are a lot of “good tenants” out there who have not become homeowners “by now”. Lest ye not forget–the median household income in San Diego is NOT amongst the highest in the Nation. Additionally, there are an ever growing number of people unwilling to pay what it would take to buy “condos” (apartments really) at current prices. Finally…higher rents are not due to “risk premiums”…rather over-leveraged speculators who are BARELY staying above water to own said “condos” trying to raise rents. Dead ducks they are!! Every single one of them!! Remember—“DENIAL IS NOT JUST A HOUSING BUBBLE IN SAN DIEGO”
