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You may be hurting, but your landlord is doing great. "It is pretty hard to find a better place to own apartments than in San Diego," says Alan Nevin, head researcher for MarketPointe Realty Advisors. As of March 10, the apartment vacancy rate in San Diego was 4.8%. As of December, it was 5.5% in San Francisco, 6.1 in L.A., 7.1 in Portland and 7.6 in Seattle. Orlando, Dallas, Las Vegas, Charlotte and Phoenix all have rates above 10%, and Phoenix's is 12.9%. The national vacancy rate is 8%, so San Diego is really sitting pretty. Buying and selling of apartments is very slow. "No one [is] selling who doesn't have to," says Nevin. "The majority of distressed apartment sales in San Diego are actually failed conversions."
You may be hurting, but your landlord is doing great. "It is pretty hard to find a better place to own apartments than in San Diego," says Alan Nevin, head researcher for MarketPointe Realty Advisors. As of March 10, the apartment vacancy rate in San Diego was 4.8%. As of December, it was 5.5% in San Francisco, 6.1 in L.A., 7.1 in Portland and 7.6 in Seattle. Orlando, Dallas, Las Vegas, Charlotte and Phoenix all have rates above 10%, and Phoenix's is 12.9%. The national vacancy rate is 8%, so San Diego is really sitting pretty. Buying and selling of apartments is very slow. "No one [is] selling who doesn't have to," says Nevin. "The majority of distressed apartment sales in San Diego are actually failed conversions."