It's probably not one thing. There are probably a couple of small, different things that are conspiring to make San Diego the underachiever that it is right now.
Chris Bates
San Diego is out of step with the rest of Southern California. It is the worst performer.
rest california southern worst
small things thing
The Bay Area is stabilizing as the economy is showing nice, steady growth -- unlike what was happening in the late 1990s.
growth nice economy
The market is probably steadily, boringly, going to continue the way that it is.
market
We have to wait another quarter to see if it continues.
wait
It's an interesting contradiction, and it's happening everywhere.
interesting contradiction
The fact that everything's increasing reflects the healthier economy.
fact economy
Though I hate to call it that, you have sort of a boring market in terms of price changes.
hate market boring call price
If it's a seesaw, it's a little bit tilted in favor of renters. If the occupancy trend continues, then people aren't going to be putting rents up. Rents would at least stay stable and possibly decline.
people favor
It (the occupancy rate decline) was unusual. It was across the board. We had a 0.2 percent decrease a couple of quarters ago, but (statistically) that was zero. This (the 0.5 percent decline), I think, is statistically significant.
unusual
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