Wow. 47% Decline for San Diego

[peterb]

Anyone buying right now is basing the purchase on recent historical reference and not looking forward. In other words, they’re buying because it seems so cheap compared to the last 3 years of pricing. Rather than asking themselves, “Where and when will appreciation begin again?” This has all the signs of a false rally. With every step down, some money comes in that thinks it’s cheap, but they’re not asking themselves “What will cause it to rise again?”. There’s virtually no news for the next couple of years that indicates a rise in prices and almost everything points to further declines. The best long term historical references we have suggests that the median price should stabilize at 3 to 5 times median HH income. And at these levels, investors can also see rents being able to cash flow slightly positive. In my opinion, that’s where prices have to get in order to stabilize. And it still does not mean they will rise anytime soon after stabilization has been reached. Long term historical evidence suggests that rising prices almost always are preceded by unemployment below 5%. Who knows how long that will take????!!!

[(former)FormerSanDiegan]

FSD, this one http://sandiego.craigslist.org/csd/apa/7…

is offered at $1495 for a 3BR

This is not by any stretch of the imagination anywhere close to the typical Clairemont rental. T

This is a shack on Morena, that is actually part of a cluster of units on a single property. Compare this to condos or townhomes (and crappy ones at that).

Your $1000 monthly rent number is not defendable. Let’s admit it and move on.

Here’s a street view of this example (click to enlarge)…

[img_assist|nid=8389|title=shared-lot condo-house|desc=shared-lot condo-house|link=node|align=left|width=100|height=75]

[(former)FormerSanDiegan]

FSD, this one http://sandiego.craigslist.org/csd/apa/7…

is offered at $1495 for a 3BR

This is not by any stretch of the imagination anywhere close to the typical Clairemont rental. T

This is a shack on Morena, that is actually part of a cluster of units on a single property. Compare this to condos or townhomes (and crappy ones at that).

Your $1000 monthly rent number is not defendable. Let’s admit it and move on.

Here’s a street view of this example (click to enlarge)…

[img_assist|nid=8389|title=shared-lot condo-house|desc=shared-lot condo-house|link=node|align=left|width=100|height=75]

[(former)FormerSanDiegan]

FSD, this one http://sandiego.craigslist.org/csd/apa/7…

is offered at $1495 for a 3BR

This is not by any stretch of the imagination anywhere close to the typical Clairemont rental. T

This is a shack on Morena, that is actually part of a cluster of units on a single property. Compare this to condos or townhomes (and crappy ones at that).

Your $1000 monthly rent number is not defendable. Let’s admit it and move on.

Here’s a street view of this example (click to enlarge)…

[img_assist|nid=8389|title=shared-lot condo-house|desc=shared-lot condo-house|link=node|align=left|width=100|height=75]

[(former)FormerSanDiegan]

FSD, this one http://sandiego.craigslist.org/csd/apa/7…

is offered at $1495 for a 3BR

This is not by any stretch of the imagination anywhere close to the typical Clairemont rental. T

This is a shack on Morena, that is actually part of a cluster of units on a single property. Compare this to condos or townhomes (and crappy ones at that).

Your $1000 monthly rent number is not defendable. Let’s admit it and move on.

Here’s a street view of this example (click to enlarge)…

[img_assist|nid=8389|title=shared-lot condo-house|desc=shared-lot condo-house|link=node|align=left|width=100|height=75]

[(former)FormerSanDiegan]

FSD, this one http://sandiego.craigslist.org/csd/apa/7…

is offered at $1495 for a 3BR

This is not by any stretch of the imagination anywhere close to the typical Clairemont rental. T

This is a shack on Morena, that is actually part of a cluster of units on a single property. Compare this to condos or townhomes (and crappy ones at that).

Your $1000 monthly rent number is not defendable. Let’s admit it and move on.

Here’s a street view of this example (click to enlarge)…

[img_assist|nid=8389|title=shared-lot condo-house|desc=shared-lot condo-house|link=node|align=left|width=100|height=75]

[(former)FormerSanDiegan]

I don’t think there is enough job creation going on to sustain $2000 p.m. rentals for a 3BR place in Claremont.

I agree that outmigration and lack of jobs will put a damper on rental increases. But I don’t expect a 50% or more decline in rents. Do you ?

[(former)FormerSanDiegan]

I don’t think there is enough job creation going on to sustain $2000 p.m. rentals for a 3BR place in Claremont.

I agree that outmigration and lack of jobs will put a damper on rental increases. But I don’t expect a 50% or more decline in rents. Do you ?

[(former)FormerSanDiegan]

I don’t think there is enough job creation going on to sustain $2000 p.m. rentals for a 3BR place in Claremont.

I agree that outmigration and lack of jobs will put a damper on rental increases. But I don’t expect a 50% or more decline in rents. Do you ?

[(former)FormerSanDiegan]

I don’t think there is enough job creation going on to sustain $2000 p.m. rentals for a 3BR place in Claremont.

I agree that outmigration and lack of jobs will put a damper on rental increases. But I don’t expect a 50% or more decline in rents. Do you ?

[(former)FormerSanDiegan]

I don’t think there is enough job creation going on to sustain $2000 p.m. rentals for a 3BR place in Claremont.

I agree that outmigration and lack of jobs will put a damper on rental increases. But I don’t expect a 50% or more decline in rents. Do you ?

[peterb]

If you look at Rich’s posts regarding rent prices in SD County during the last down cycle, he notes that rental prices declined between 5% and 10% in the early 1990’s. I was here then and it was a dismal place from an economic view point. I would be surprised if it got that bad again. But it may.

[peterb]

If you look at Rich’s posts regarding rent prices in SD County during the last down cycle, he notes that rental prices declined between 5% and 10% in the early 1990’s. I was here then and it was a dismal place from an economic view point. I would be surprised if it got that bad again. But it may.

[peterb]

If you look at Rich’s posts regarding rent prices in SD County during the last down cycle, he notes that rental prices declined between 5% and 10% in the early 1990’s. I was here then and it was a dismal place from an economic view point. I would be surprised if it got that bad again. But it may.

[peterb]

If you look at Rich’s posts regarding rent prices in SD County during the last down cycle, he notes that rental prices declined between 5% and 10% in the early 1990’s. I was here then and it was a dismal place from an economic view point. I would be surprised if it got that bad again. But it may.

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