Southern California Real Estate Question
A few months ago I helped my son shop for an apartment in San Diego, where he is working for Ballast Point Beer. Currently I am helping my daughter look for apartments in Pasadena, where she may be attending art school. In both cases we found that small studio apartments often have higher rents than one- and sometimes even two-bedroom apartments in the same complex (and with the same fit and finish, amenities, etc.)
What the hell? I understand that there may be more demand for studio apartments in these neighborhoods among young singles than for larger apartments, but once one sees the studio for $2200 and the one-bedroom for $1800, why would one still choose the studio, which might be half the size? Ease of cleaning? Is there some artificial demand from some government or financial aid program that will only pay for studio apartments? Do Chinese students come to the US and suddenly get agoraphobia from an apartment that is too large?
