It is nearly 1 AM. Sitting at my computer because 3 attempts to go to sleep have failed. The reason for this is the LOUD MUSIC from The Ivy Hotel. After all the discussions, promises, phone calls, my complaints about loud music go unheeded. There is a CCAC meeting on Tuesday where I intend to make my voice heard. Also the Noise complaint will finally get filed. I may seek legal help to obtain an injunction. What I really need is some more people to join me in my quest for a quieter neighborhood. I just want to be able to sleep without listening to that loud bass pounding. Right now there is a female singer, sounds like she is on my patio. I am angry, disappointed in the people who have told me they want to be good neighbors.

Moving on, there was a recent newspaper article about the CCDC & CCAC and the mess they seem to have created. Our lovely City has been a construction zone for 10+ years. The bubble has burst. The newer buildings are unable to sell the condos & they sit vacant. There are a few construction sites where there has been no activity for some time. One place is the southwest corner of Market & 10th. There was a lot of work being done & then nothing. It is a large gaping hole, temporary sidewalks, but nobody is there. How many other properties will be the same?

If rental prices don't come down, there will be a mass exodus of renters from the downtown area. Several local residents have moved East to save on rent, giving up on downtown, Gaslamp accessibility. All I can get from the City Council is that the prices are "what the market will bear". I recently have had the experience of 2 managers at separate complexes lie to me about the occupancy rates in the building. One young man told me they were full & had a waiting list. A friend who lives there paints a completely different picture. Lots of empty apartments mainly due to a requirement that one's income must be 3 times the rent. It is usually the other way around. According to statistics printed in an article on CNBC online, a majority of San Diegans live at 139%. Every month becomes an issue of robbing peter to pay paul.

On to a VERY IMPORTANT issue: VOTE. Read the election information guide outlining the ballot propositions. Whatever else is happening on November 4th, PLEASE take the time to cast your ballot. Your vote counts.

So long

Comments

averagejoe Oct. 10, 2008 @ 8:27 a.m.

A few comments:

1) If you live next to the Ivy Hotel, I'm assuming you live in the Gaslamp Quarter. Um, were you unaware when you moved in that there are night clubs near there that play loud music Th-Sat? I can't imagine you've lived there since before all the clubs moved in. I used to live in the Gaslamp, and when I decided I no longer wanted to live in that environment, I moved. It's like the people who moved into condos near the train tracks and then made a stink about the train whistle. C'mon, be logical.

2) Yes, there was a huge surge in development of condos in Downtown because, for a time, that's what the market demanded (i.e. people were buying). Now that demand has dried up; condos that won't sell will be rented, projects that weren't finished will be bought for a deal and completed by another developer. This will take time, though. Be patient.

3) If people really are moving out of the Gaslamp area because of high rents, the rents will come down. It's economics 101: supply & demand. So again, be patient. With all due respect, your friend probably doesn't know what he's talking about. Think about it: no business-savvy landlord would choose to have vacant apartments earning zero income than an occupied unit making some income. And the practice of requiring a tenant to have a monthly income of three times as much as the rent (i.e. a third of their montly income is spent on housing) is a nationwide standard - even the Department of Housing and Urban Development uses that rule of thumb when managing Section 8 programs. It is what was determined a person could spend on housing and still have enough money to pay other expenses.

Granted, in San Diego, housing has been more expensive than other areas, and so people realistically are spending more than a third of their income on housing. Again, I go back to the issue of supply and demand: high demand + limited supply = higher prices. So, be thankful for all those new units - the increased supply means increased competition for housing and prices will come down accordingly.

If you just can't wait for the market to sort itself out, then stop bitching and move.

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