The downtown condo market is a huge variable in the rental market, IMO.
There is already a glut of downtown condos that aren’t selling and there are several thousand more that are planned (I doubt all of them will be built).
Housing that won’t sell becomes rentals so I am expecting a LOT of rental condos downtown. Enough of them to depress the rental market in the rest of San Diego.
I have gone from 22 to 0 rental units in the last three years. Partly to take advantage of ridiculously high prices and partly because of what I foresee in the rental market.
On a tangential subject: consider your situation and whether that house is an ‘investment’ or a ‘speculation’. If it doesn’t have positive cashflow it is a speculation in my opinion. I was fooling myself about being a ‘real estate investor’ when all I was really doing was speculating on higher prices (and taking money out of my pocket every month to do so).
