October 18, 2007
Tighter lending standards, a shortage of rental units and the recent spike in home foreclosures are benefiting the San Diego region's landlords. Delores Conway, director of the USC Casden Real Estate Economics Forecast, said foreclosures have returned some homeowners to the rental market, while the recent credit crunch has prevented others from becoming homeowners. "People are opting to rent," Conway said. "Buyers are waiting; they are sitting on the fence."