Rental market in San Diego is starting to slow down for sure. I can tell you based on a bunch of data that the rental vacancy rates have been rising for the past 6-9 months and in most markets the rate of increasing prices has started to level off although it is still going up a bit. I’d expect us to plateau around these levels for a bit, and then who knows what happens after that. If we get a recession we probably see prices move down if we get real wage inflation then perhaps prices move up.
