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because much of the construction was targeted at the rental market. A bit like our cbd boom in residential apartments from year 2000-03. There will always be section of the community that is experiencing rental hardship generally because they are in the lower economic group.

Im not sure on my following point, but didnt the low vacancy rates in california act as a catalyst for mass construction. There is definately no shortage of rental accomodation now. Rental vacancies are quite high in the US. Thats one of the big headaches, there is no incentive to buy.

Actually i think its the opposite. Its much easier to predict 8yrs into the future than one year. For starters 8 years into the future means inflation will have taken out maybe 30% of the nominal value. Peoples salaries should be about 50% higher in nominal terms.

You are only partially true YLD Matters. The important point is to increase the area of coverage and then look at vacency ylds. Not just in prime 'want to live' areas. For example if you look at inner melbourne with a radius of about 8km from the cbd spanning outwards, vacancies are still...

This is exactly what is happening. One of my two bedroom apartments (unfurnished) in melbourne CBD is rented rented to multiple international students (4 students to one two bedroom apartment). High income earners ($100k+) are 'downsizing' from two bedroom two large one bedroom apartments if...