I had a meeting at the University of San Diego, Real Estate Board where someone came and talked about the current local politics that is affecting real estate and the hurdles associated with it. In summary, it will become very difficult to meet the housing needs in San Diego in the future. This is a good thing for people to own real estate over the long term. This is because San Diego is growing, but by not allowing more buildings, or making it more difficult or expensive to make new buildings, the values of existing buildings will naturally increase.
How do you think that should affect the strategy of real estate investors?
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