I work in commercial real estate, grew up in San Diego and work in the SoCal market. I am not joking that the MAIN problem is Prop 13, which came into effect 5 years after this video was made.
I deal with these owners EVERY DAY who would rather sit on crappy buildings and land because why not, it costs them nothing. They've owned forever. Literally TODAY I had an offer rejected from a Seller that would have yielded 80 units of affordable housing in an area with $150k median income, delivering completion in 2028-2029.
I deal with these owners EVERY DAY who would rather sit on crappy buildings and land because why not, it costs them nothing. They've owned forever. Literally TODAY I had an offer rejected from a Seller that would have yielded 80 units of affordable housing in an area with $150k median income, delivering completion in 2028-2029.