Question: Is the San Diego County market saturated with luxury new apartment projects?
Bob Rauch, R.A. Rauch & Associates
NO: While there is significant product in the pipeline, especially downtown, the rental market is rock solid. Downtown will only run the risk of saturation if they add rental units without adding jobs. Having said that, there are many strong sub-markets in San Diego that can support luxury apartments. Further, as baby boomers age, there will be a luxury, independent living apartment market that will develop at a rapid pace. The barriers to entry to build in San Diego, coupled with the population growth of our residents bodes well for a balanced market here.
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