San Diego is already one of the nation’s most expensive cities. That’s not changing next year for renters.
The Los Angeles Times reports that rents in the city are expected to rise 3.6 percent in 2017 and 3.4 percent in 2018. Some renters may turn into buyers by capitalizing on rising mortgage interest rates that are still fairly low. San Diego may experience an increase in housing demand from military personnel next year, as well.
Tim Sullivan, managing principal of Meyers Research, said disruptions to the housing market could come from virtual home buying, global movement of people, ride-sharing services like Uber possibly making parking spots less of an issue, as well as autonomous vehicles.