UT Article: San Diego Rent Expected to Rise

[Coronita]

San Diego rents expected to rise this year
Reports: Demand outruns supply, so units will cost more and be harder to land

http://www.utsandiego.com/news/2012/may/13/san-diego-rents-expected-rise-year/

Summary (according to article):

*Average rent in SD County up 2.6% to $1,361
*Rental vacancy rate down to 4.43%

And looks like Generation X’s and Y’s that moved back home during the meltdown are looking to move out again…

Article cites one 24’er that moved out of parents house into own pad.

Article also cites older 30’er couple that moved from LA for a tech job,..(Coincidently, it’s consistent with the tenant pool that I saw back in March in which most applicants where tech job workers just starting out)

In both cases, neither have the means of homeownership at this point.

[quote]
“We want to be free, to move depending where our jobs are,” said George, who signed a 15-month lease at Circa 37. He and his wife expect to stay there for two to three more lease terms.

Parker, the recent college graduate, says she expects to rent for at least five years.

“Buying a home,” she said, “I don’t know too much about it right now. Maybe once I settle down and everything.”
[/quote]

[an]

Thank you to all of those who thinks owning is out of fashion. Thank you to all of those who bought into the bubble, defaulted, and now have to rent. Thank you to all of those who are getting caught up in the materialistic world and can’t save up enough to down for their own place. Finally, thank you for tightening the lending standard so a lot of the people mentioned above can’t get a mortgage even if they wanted it.

[sdrealtor]

Dont invest in rentals. Its a better time to quintuple down on Zynga

[Coronita]

[quote=sdrealtor]Dont invest in rentals. Its a better time to quintuple down on Zynga[/quote]

What comes after quintuple? 🙂

[Coronita]

And this is where I to say, once again…Thank you sdrealtor.

Because while I once was really really skeptical about SD…contacting you was one of the best decision I made in a long long time. You also saved me quite a bit…. had this never happened, I would have been getting my ass handed to me right now…

[sdrealtor]

[quote=flu][quote=sdrealtor]Dont invest in rentals. Its a better time to quintuple down on Zynga[/quote]

What comes after quintuple? :)[/quote]

For Zynga my guess is OTC.bb

[Myriad]

LOL, you guys are funny. Who needs facebook when you can quintuple down on zynga.

Crazy – that new apt complex in Mira Mesa will be up to 1800+ units.

[an]

[quote=Myriad]LOL, you guys are funny. Who needs facebook when you can quintuple down on zynga.

Crazy – that new apt complex in Mira Mesa will be up to 1800+ units.[/quote]
1800+ units isn’t too crazy when you think about the Stone Creek master plan that will come into South Mira Mesa. That master plan will include over 5000 multi-family units. Mira Mesa is going to be much denser than it is today in the next 10 years.

[ocrenter]

[quote=AN][quote=Myriad]LOL, you guys are funny. Who needs facebook when you can quintuple down on zynga.

Crazy – that new apt complex in Mira Mesa will be up to 1800+ units.[/quote]
1800+ units isn’t too crazy when you think about the Stone Creek master plan that will come into South Mira Mesa. That master plan will include over 5000 multi-family units. Mira Mesa is going to be much denser than it is today in the next 10 years.[/quote]

oh boy, you think Mira Mesa/Black Mountain is bad now… hey, at least the city should make a killing from the red light camera when cars are stuck in the middle of the intersection…

[an]

[quote=ocrenter]oh boy, you think Mira Mesa/Black Mountain is bad now… hey, at least the city should make a killing from the red light camera when cars are stuck in the middle of the intersection…[/quote]
I never knew that intersection is/was bad. But they will expand Black Mountain and there will be a DAR on Hillery. So, I assume they’re already anticipating the increase in traffic.

[an]

dup.

[Coronita]

[quote=AN][quote=ocrenter]oh boy, you think Mira Mesa/Black Mountain is bad now… hey, at least the city should make a killing from the red light camera when cars are stuck in the middle of the intersection…[/quote]
I never knew that intersection is/was bad. But they will expand Black Mountain and there will be a DAR on Hillery. So, I assume they’re already anticipating the increase in traffic.[/quote]

What is a DAR?

[an]

[quote=flu]What is a DAR?[/quote]
Direct Access Ramp… Same as the one in Rancho Bernardo on the 15.

http://www.miramesatowncouncil.org/Hillery_DAR_Page.htm

[Coronita]

You know folks. I really think Mira Mesa is an up and coming place. With all these builders going in there, I think we’re going to see a transformation of MM in the next few years. The location is great for workers and the industry around there is more high skilled work…. Imho buying a SFH home probably would work out well…

If I had enough cash or so lying around and available financing at near break even, I would be considering a SFH in MM. I have a feeling I’ll look back in a few years and wish I had bought a SFH there.

Plus, it’s only 10 minutes to Del Mar…
We’ll call it Del Mar Adjunct… 🙂

[Coronita]

[quote=ocrenter][quote=AN][quote=Myriad]LOL, you guys are funny. Who needs facebook when you can quintuple down on zynga.

Crazy – that new apt complex in Mira Mesa will be up to 1800+ units.[/quote]
1800+ units isn’t too crazy when you think about the Stone Creek master plan that will come into South Mira Mesa. That master plan will include over 5000 multi-family units. Mira Mesa is going to be much denser than it is today in the next 10 years.[/quote]

oh boy, you think Mira Mesa/Black Mountain is bad now… hey, at least the city should make a killing from the red light camera when cars are stuck in the middle of the intersection…[/quote]

The city is going to end up loaded with all the rental tax and fees and commerce from it too.

[Author]

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