From the prior posts (mostly landlords or would be landlords) is that prices in San Diego are going up, with this site as a better, but not perfect, source of information. Two things,
First, it seems high. I am not saying that you cant find prices like that, but that I doubt it is capturing alot of smaller rental places (in terms of number) which will be the first to feel the slow down. Just like housing prices, watching the largest and best organized rentals (ala CV, 4S, LJ in the buying market) as a sign of the health of the rental market is dangerous, because any pain will show up in the lowest segments (chulaV, eastlake)of the market first.
Second, the month over month seems to have alot of red. Click on San Diego Proper, it breaks it down by zipcode and the month over month isnt showing alot of growth. Add into that the hard hit zipcodes of 92154 and 91911, Ie chula vista, are showing some of the highest rental increases. 92127 and 92128, even 92121, are showing mixed to down results. I find it hard to believe that that La Jolla and RB are suffering while Chula Vista is seeing some of the highest appreciation. More likely this is based off asking prices, not those which are actually renting. ALot of people in Chula Vista NEED to raise to keep up with their investments, so prices are recording as going up.
On the otherside, people in these areas are losing more houses, so demand MAY be higher in these areas (why pay 1650 in Chula South, when you can pay 1700 in Clairmont and work in LJ?) If true, that wont last forever.
Not saying that prices are not going up on rentals, just watchout about numbers like this. Housing prices were going up in 2006 too remember?
