I've been filling 4 condo rentals in mora.esa.and was worried that the QC layoffs would impact.rent prices. However it seems like it is helping in a more sinister way.
I had a one day open house on my condo this weekend, and I received 12 applicants wanting to lease. 10 of the applicants were engineers not from Qualcomm but from outsourcing companies such as TCi, Wipro, Tata and all.od them mentioned they were working on projects for QC for the next 18-24 months. all desperately looking for a 1 or 2 bedroom.
I was able to rent out my 1 bedroom $2700/month furnished and a 2/2 at $2300 unfurnished.
I felt bad for all the non engineer applicants with less stellar credit or poor income less than $100k..
they didn't even have a chance ... I guess they can live in Chula Vista or National City....but ....this can't be good for FTEs at Qualcomm as they seem that be getting replaced by cheaper labor.
good news though for slumlords in MM. These condos were like under $200k when the bubble bursted....