Impending Initiatives Impacting the Value of Your Multifamily Investments Potential Repeal Of Costa-Hawkins in the upcoming election. Costa-Hawkins essentially allows landlords to rent their vacant unit at market rate. If this were to go away, any upside potential in your multifamily investment would evaporate. Read more below. SB721 - this law has been around for a few years already and...

The recent onslaught of heavy rainstorms in San Diego County has left a trail of destruction, prompting local officials to take swift action in aiding affected communities. However, amidst efforts to provide relief and assistance, a storm-related emergency ordinance passed by the San Diego County Board of Supervisors has ignited a contentious debate, particularly within the realm of housing rights...

San Diego's apartment rental market, which has been grappling with a six-month downturn, saw a glimmer of hope in January as rents trended upwards for the first time since June 2023. This marginal increase of 0.2% may seem slight, but it marks a notable shift in a market that has experienced consistent declines, hinting at potential changes in the narrative...

The average multifamily asking rent in the US went up $3 in March to $1,706. The national asking rent growth turned positive for the first time in 4 months. With this being said, nationally the year-over-year growth actually dropped to 4%. With the collapse of several banks making the financial markets unpredictable at the moment, the multifamily market has remained relatively...

Throughout the pandemic multifamily owners in California saw a 2-year delay in physical and economic terms. With situations like this, this can play into why SB721 was put into place. Through SB721 California multifamily owners must have their balconies inspected and there are now deadlines for this. The first deadline is to have balconies inspected before or by January 1,...

Throughout the past two-and-a-half years, we have seen asking multifamily rents climb at the fastest pace on record, at 21.7%. But with this, the asking multifamily rents have now fallen month-over-month for the first time since May 2020. The Fed has been aggressive with rising interest rates to combat inflation. These rising rates will eventually take its toll on the...

More and more San Diego renters have been falling into homelessness. To combat this, there will be new tenant protections.    There will be more consistency with the Tenant Protection Act of 2019. Through this, renters will receive additional notices such as the definitions for “No Fault” and “At Fault Termination of Tenancies” so that the terms are clear to both the...

The estimated 12-month personal consumption expenditures (PCE) through October was 6% (as seen below). Inflation is still uncertain over the next few years. Forecasts show significant decline over the next year, but it has also been projected to do so multiple times in the past and did not, so it is still uncertain. To get on a path to inflation...

COSTAR INSIGHT San Diego Adds More Jobs, Loses More of Its Labor Force Apple Still in Hiring Mode By Joshua Ohl CoStar Analytics November 21, 2022 | 2:38 P.M. San Diego’s unemployment level shifted upward during October, to 3.2%, according to the latest report released by the California Employment Development Department. That compares to California’s unadjusted statewide unemployment rate of 3.8%. Although San Diego added 14,000 to nonfarm...

Currently 42% of Chula Vista housing is rental housing. 44% of renters in Chula Vista pay over 50% of their income on rent. 47% of Chula Vista’s households are considered to be lower income. Many of the Chula Vista renters applied for the COVID-19 Emergency Rental Assistance Program (ERAP) to get help paying rent. Along with this, Chula Vista’s rents...

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