I looked at the data and my assumption was wrong because the sales are spread out too far. I was trying to remember my college days and what rents were, I remember in the mid 80’s paying 600-700 month for 2br/2ba rentals, not just at sdsu but in gangland within 5 miles of school. Compared to the areas I lived in, El Cajon would have been a step up (bed placement was always based on where stray gunfire was most likely to come from). I also remember in 1991 looking to buy my first house and the condo’s were close to 100k, even in Oceanside and Vista so it seemed har to believe that 40-60k was the price for a condo in El Cajon. During a down cycle there are always huge bargains to be found where rentals can be cash positive from day one and these may have been just that, too bad we missed it. I still hold to my assertion that you will see a time where the one you want will find it’s way below 150k and will not find it’s way below 100k.
