Rents may go up here and there across SD, but there are a lot of landlords in very comfortable positions here. Those who purchased their properties after the early 90s downturn and before the bubble have a LOT of pricing flexibility. The “weak hands” who got into the game late using toxic mortgages will try raising their rents, but their tenants should be able to relocate to a property owned by a “strong hand” landlord to save money. Of course, if we move out on the demand curve due to population growth, that will apply upward price pressure across the board. But just because 10% of the landlords are “weak hands” that must raise rents to cover costs doesn’t mean that all rents are going up. As a personal anecdote, my landlord (who I happen to know is a “strong hand”) just offered me another year at the same rate I’m paying now. Barring a big increase in population, I just don’t see rent increases outpacing inflation.
