The San Diego real estate market has been courted by investors since I’ve know what a real estate investor was. She’s always been a flirt, but when the chips were down, she’s been there for you. Now she’s singing a different song, one you’ve never heard. She’s changed the way you think of her, and the worst part is, she doesn’t care.
Has your retirement Plan been put on hold while you wait for ‘normal’ to resume? Normal isn’t coming back — it’s being redefined by the pretty lady you’ve always loved — San Diego’s real estate investment market.
How many ways has she chosen to break your heart?
By swaying developers to build everything and anything but residential income property. By allowing existing income units to age for the last 20 years without providing new product. By ensuring over time your units will require huge down payments just to break even. She’s deliberately allowed neighboring states to compete effectively against your product. And maybe worst of all — she’s made these changes permanent. She’s still leading you on, making you believe she’s still your girl when she hasn’t been for a few years now. Lies are the only way she keeps you hanging in there, hoping against hope she’ll come back to you.
Show her she’s not so smart, and you won’t believe anything she says. She’s long gone, walked away, and isn’t the least interested in coming back. Developers know this, and have for some time. They haven’t built residential income properties in any kind of numbers that matter for the last 20-25 years. They’re her new love — you’re already forgotten. Don’t allow her to keep you here with her lies.
The San Diego real estate investment market has left you. The sooner you acquiesce to that reality, the sooner you’ll be able to adjust. Your birthdays are gonna keep comin’ and goin’ whether you adjust or not. She ain’t comin’ back. There are more fish in the sea.
Leave her — she left you long ago. There are others who want your capital and will treat you the way the San Diego market used to. Make the move — contact me — I’m a great matchmaker.
For those who remember this song when it was new, notice the ‘go-go’ dancers. They’ve sure evolved since then, haven’t they?
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- San Diego Real Estate Investors — How’s That Income Property Workin’ For Ya So Far?
- San Diego Real Estate Investors — Being Dumb Like A Fox — Don’t Retard or Delay Retirement
- Fun on Sunday — Real Estate Investment Truth Through Music — Listening San Diego?
- Describing The Texas Real Estate Investment Market
About BawldGuy
Please, an amicable divorce. She just got too expensive and lazy. Let her pay her own way for a few years. She’ll lose some weight, get back in shape and in a few years… who knows?
Fell free to reverse the sexes if the above is offensive. It is nothing but analogy not true anthropomorphism.
It appears the die is cast, Robert. She may look our way again with that alluring smile of hers, but in the end, she’ll never grace us with the same results. She only has eyes for homeowners and assorted commercial property types.
Alas, it’s time to move on.
Seriously, there’s not a healthy regional economic mix when you exclude whole classes of rentals and commercial RE categories. This extends to new business development, overcrowding problems, unfavorable demographics, etc.
The developers are building what they have found to be projects that sell. Whether it has been homes instead of rental units, or office/retail space.
The purely commercial side is usually perceived even more so as a build as need is perceived. It doesn’t always work out that way of course, but perception is the key. We’ve seen some hard times in recent years in office vacancy rates.
I am concerned about the drag from the region being “over retailed” can have on the entire market. It is just too easy to turn retail spaces into so many other things. Likewise, while I don’t have an opinion, timetable or analysis (because I don’t really care) the condo to “repartment” syndrome this time is in what we are currently calling “mixed use” developments. In short, the “overhang” is a concern. “Overhang” is one of those characteristics that is very useful in separating the good investment regions from the poor.