Too true.
There are still good renters out there who realize that the price of renting in SD is less than half of owning right now. The rent prices that I have seen the would-be landlords trying to charge for their redecorated condo-apartments to try to cover their mortgages are nothing short of silly sometimes.
The people who I know that are renting in the area choose not to buy. The stories I hear of those buying the units are speculative.