Re rentals in the west Hillcrest area:
The rents support the purchase prices in most of the units in that area. I lived there for a long time and really wish I had money to buy something sensible there now.
Re Atlas:
The thing about the DR Horton projects is that they don’t lose value much because they lend their own money.
The primary factor in erosion of value–shorts and reos on comps–does not exist because they have the prerogative to renegotiate any deals. That is why their other project (La Boheme in North Park) has had almost no repos or distress sales (look it up: 3957 30th and 3950 Ohio). Almost every resale there has been on one of the cost-controlled “affordable housing” units (in quotes because it is ironically named).
Re Macro:
Dude, the “don’t even think” part really seems to be the primary thrust of your posts. They are poorly researched and often facile. Since everyone is paying more than $350/sf in that complex and about $385/sf in that zip code, the whole $100/sf is just silly. “everyone else bring data”
