What is causing the astronomical increase in rents in San Diego?
3 comments
Hello! I don’t have an answer, but I wanted to note that you should prefix your title with “Ask HN:”. It should make it show up in the ‘ask’ list, and make it clear you’re asking the question.
Most likely a shortage of housing and inflation. When Real Estate prices increase, rent prices increase. I suspect it will continue and accelerate as Government spending and the flood of new money will drive capital into hard assets.
Supply and demand, work from home has allowed more highly paid professionals, mostly in tech, to work remotely from anywhere they choose and many are choosing to live and work from home in San Diego because of the weather and quality of life. Who can blame them.
My current apartment was $2,700. It is now listing for $4,000.
$4,000 used to be able to give you a brand new luxury apartment in La Jolla.
This all occurred in the past year, maybe even the past two to three months.
What has changed in San Diego? Why are rent prices so expensive now?