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San Diego rents declined following surge in supply

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Re: San Diego rents declined following surge in supply

#191

Post by iamnothere »

afpx wrote: post #171
darksaints wrote: post #118

Earlier quoted context omitted.

At the density of Kowloon Walled City, the entire population of India could fit within the city limits of San Diego. Nobody is asking for that, silly. We could 1.5x the density of San Diego and still have the livability of Copenhagen. We could 3x the density of San Diego and still have the livability of Vienna. We could 5x the density and still have the livability of Paris. 8x and still have the livability of Tokyo.…

That's the issue. Most Americans don't want the entire population of India to be in San Diego. To some of us, San Diego is one of the best areas in the country. Why destroy it?

Did you only read the first sentence???

Second sentence, repeated here for clarity: “Nobody is asking for that, silly.”

Perhaps it’s too much to ask you to read the entire comment you’re responding to, but at least read the second sentence, please.

Re: San Diego rents declined following surge in supply

#192

Post by ButlerianJihad »

Let's be clear about our terms here. The articles in the OP appear to be strictly discussing the City of San Diego. The City of San Diego is a drop in the bucket compared to the expansive San Diego County. If you're talking about being a "border town" or "metropolis" then you're not talking about the City but the County.

San Diego County includes La Jolla and points further north, as well as El Cajon and Jamul and all sorts of suburbs. It's a huge area with many disparate neighborhoods (and even 4 microclimates.)

The City of San Diego includes very undesirable neighborhoods such as most of Downtown. There are a lot of places where normal people would have a terrible time, despite still being expensive. But there are also many different parts of the County which are "bad neighborhoods" and upscale places and ethnic enclaves, etc.

Honestly, I was a little surprised that these articles are specifically referring to only the City in terms of housing supply. The vast majority of San Diegans don't even live in the city. I mean, it's not as pathological as Los Angeles and its county, but it's an important distinction that's often lost on out-of-towners.

Re: San Diego rents declined following surge in supply

#193

Post by littlexsparkee »

superfrank wrote: post #113
dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

Except when it doesn't. From the same article, Seattle and Oakland had supply increase 13% and 6% respectively and both saw average rents go up. Long Beach, CA and Santa Ana, CA both had supply increase by over 10% and saw rents stay basically flat. More supply generally will help, but it's not a silver bullet.

Maybe more recently it's up but Oakland has been a supply success story as prices diverged with SF starting around 2021. There's a chart past the fold that illustrates it well:

https://www.sfchronicle.com/realestate/article/oakland-rent-...

Re: San Diego rents declined following surge in supply

#194

Post by tptacek »

wallst07 wrote: post #173
tptacek wrote: post #72

Earlier quoted context omitted.

Austin does not appear to have undergone a "net population exodus", at least not one visible on any of the charts I found (I stopped after FRED).

I think you need to look at rate of change ( 1st derivative ), not net terms. Meaning population increase slowed down relative to new housing builds. OP didn't say this, but it's what I assume.

I think the claim made used both the word "net" and "exodus" and was simply false.

Re: San Diego rents declined following surge in supply

#195

Post by xtiansimon »

littlexsparkee wrote: post #188
xtiansimon wrote: post #182

Earlier quoted context omitted.

SF (only acceptable abbreviation) is 7x7 miles square surrounded by water on three sides—the only way to grow is up, right after you knock down the 100 yro Victorian homes and historic buildings, and gut the neighborhood charms. This from someone who once paid rent 1300/mo for a two bedroom in Potrero Hill.

Nah, Frisco has a long history of use https://www.sfgate.com/local/article/rappers-poets-activists... as does 'the City'.

hehe. Frisco seems derisive to me. And The City? All major cities can be called that when in their vicinity (NYC?). But SF? It's right there on the Giant's caps!

Re: San Diego rents declined following surge in supply

#196

Post by culopatin »

pydry wrote: post #59
darksaints wrote: post #48

Earlier quoted context omitted.

I've been told repeatedly by people who have a vested interest in maintaining high housing prices that supply and demand don't work at all, ever, for any reason, and high prices are no reason to build more housing. How do I reconcile these facts?!?

If demand for cars skyrockets then you (eventually) get more cars at the same price coz the manufacturer can just make more. If everybody wants to buy up land because "god isnt making it any more" you get less land at an even higher price which makes it even more attractive as a store in value. So no, supply and demand doesnt really work for land the way it works for everything else. Land needs to be taxed a lot to c…

It does, because factories don’t have unlimited production capacity. See what happened when Covid hit, or when interest rates go down. Used car prices go up with it too.

Re: San Diego rents declined following surge in supply

#199

Post by bombcar »

xtiansimon wrote: post #195
littlexsparkee wrote: post #188

Earlier quoted context omitted.

Nah, Frisco has a long history of use https://www.sfgate.com/local/article/rappers-poets-activists... as does 'the City'.

hehe. Frisco seems derisive to me. And The City? All major cities can be called that when in their vicinity (NYC?). But SF? It's right there on the Giant's caps!

What are you talking about? It's clearly Cisco - the bridge is right there in the logo!

SF was founded by a joint effort between Cisco and Salesforce, that's why it's called Cisco and SF, right?

Re: San Diego rents declined following surge in supply

#200

Post by anal_reactor »

mothballed wrote: post #175
anal_reactor wrote: post #169

Earlier quoted context omitted.

Private companies are good at removing inefficiencies. As long as there is competition, private companies will offer better service at lower price. State-owned companies work better in cases where maintaining healthy competition is not possible, or where inefficiencies are not a concern. In particular, Gulf states have virtually unlimited money, which means that it doesn't matter whether a new construction costs $400…

It's 'easy' if you have inside connections with the planning and zoning committees and utility companies. I recently developed a property worth about $250k for about $100k. The building process itself is relatively cheap (land + cost construction way cheaper than value of a finished property) and straightforward, everything else is not. The only reason why I was able to get it done as a random person was because I us…

Okay so basically the problem is a system of overly complex rules that don't serve any purpose besides cementing the current influence zones. Creating a state-owned company to navigate these rules won't make the whole process cheaper, only changing the rules themselves will.
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