This thread is interesting…I agree that unless there is some subsidy, I doubt there will be much lower (< 600k) sfh construction anywhere in primer San Diego (coastal/north inland, not counting east or south SD).
As mentioned in the home insurance thread, I think building costs have probably also sky rocketed from just 5 years ago as my home insurance has doubled pretty much.
With so much anti-development all over SD and CA in general, I don't think supply will ever catch up to all the higher income jobs in the work centers so if I was lower income and didn't buy already, I'd seriously move.
With the crash in 08-10, rents probably stayed the same more or less because people who lost homes still had to live somewhere supporting the rental market. I know a few people who were doing the massive leverage home buying during the bubble and loss all their homes.
As mentioned, I think unless something drastic were to happen with people leaving SD or CA in general, prices won't do much, but probably steadily go up continuously as will rents.
Good for the asset holders for sure...
SF may drop a little I think since the tech IPO market seems to have slowed a bit.
Rent there is insane I hear with 2bdrms going for 5k/month+.
