Your Forbes article mentions LA County but not SD County. It doesn’t really matter though, because if bulk investors have to piecemeal sell any of their CA coastal rental inventory as leases expire and they can’t easily fill the units, then they are poised to make a GREAT profit!
Remember that these investors bought these (previously distressed apt bldgs?) dirt cheap and rehabbed many of them themselves. I’m sure their investors will be plenty happy upon COE of these slow rental projects and trickling them out into the market isn’t going to affect RE prices one way or another, especially the CA coastal SFR market.
Please feel free to correct me if I have this wrong, but by this thread and your last one (which you didn’t participate in yourself), you seem to be suggesting that the SoCal coastal housing market is poised for an imminent “crash” of sorts.
Are you actually a wishful prospective buyer looking for a principal residence? If so, I would implore you to log off your computer, hit the streets and get busy placing offers on homes before you will no longer be able to.
This suggestion isn’t coming from a “pollyanna” . . . far from it. If you need a home for your family now, ignore it at your peril.
