deadzone, your comment that “There is just no way demand for downtown living will ever match the number of condos they are building” is incomplete, in my opinion. I think it could be ammended to, “There is just no way demand for downtown living will ever match the number of condos they are building AT CURRENT PRICES.” I would agree with you there. Knock another 20% off prices and I guarantee you that demand will pick up considerably. Enough to put bodies in all the units for sale? That’s what we’ll find out. We’ll only know after the fact. (Do you really consider condos a “niche market”? My guess is that 15%-20% of all single family residences in San Diego County are condos. Is that what passes for a niche these days?)
Perry, although you may put Auckland below SD in a list of glamour cities, the populace disagrees – compare populations of people who have enough money to choose between the two and there’s your answer. I don’t understand why people live in NYC but I defer to “the tape” that more wealthy people want to live there than in SD. While we may disagree on what constitutes a “glamour city,” Robert Shiller came up with the list(which includes SD) and the moniker, not me.
Borat, you proved my case. That’s a great picture of Santa caught napping. Hell, even Santa Claus wants to live here. (That was tasteless. But, that’s my bag, baby.)
sdrealtor, yeah, our problems are minor in comparison with Miami, with a condo inventory that’s going to be 10x that of SD over the next few years. I don’t know where all of the buyers are going to come from. Sure, there are a lot of well-heeled foreigners that want to live in a big US city near the beach… but that’s a lot of inventory.
