I think some of the condo conversions in UTC and CV were purchased by investors/speculators, as downtown. Although no degree in necessary as those in biotech, realtors and many in construction were making huge salaries. I think there is a domino effect and there are so many factors tugging at the price. Are there still loans that will be resetting in June? More defaults and foreclosures will influence housing in San Diego in general. I believe all the different neighborhoods compete w/each other.
I know there are some deals downtown and I would consider it, but we need a garage and few and far between downtown. Hard to come by. That is one criteria for us. We would not consider Temecula or Chula Vista, but there are many other parts of San Diego that we check.
If I’m that way, I would think other people are as well. There may be pent up demand, but qualifying criterias will have a say and deals in some areas will help some people decide where to buy.
