Not sure why this posted twice.
I own 21 Units in Encinitas near Moonlight, and while turnover has increased, which means cash flow issues while I re-rent them, we have raised rents this year about 5% and have to take our postings off craigslist within 12 hours due to response. I am not sure it would be so good if we were in Escondido or Vista.
One other thought is that we are getting people that are down-grading, meaning that they used to pay $1550 for a two bedroom, but have now moved to our 1 bedroom priced at $1050, which means that we have been able to keep prices up as people have slid down the ladder from larger more expensive places to ours. I don’t think people who are looking to cut cost have been able to slide laterally into something equivalent to what they currently have for the same cost. Just a theory.
