I don’t have any data to substantiate this, but I have a hunch that a lot of the owners of apartments in SD County are old money…that they bought them a while ago, at least before this latest bubble. In these instances they don’t have a huge mortgage payment and don’t need to charge top dollar in order to turn a profit. Of course they want to charge as much as they can get away with, but they know there is value in keeping clean, responsible renters who pay on time.
