It’s clear that rentals should go up due to increased demand from those who can’t or won’t buy houses at today’s prices. But supply is also a factor, but I don’t see a glut of rentals happening.
I’m concerned that low income housing is also going to go up due to the upward vacuum effect (higher priced rentals go higher, leaving a price gap that lower priced rentals will then fill). The people who work in the service industry play a very important part of an economy, and they just may be priced out. New York City has a great subway system to help transport people from outlying areas, but can the San Diego area deal with the lack of housing for these people?
