I think it's pretty self-evident that land prices downtown have escalated so rapidly that people are looking for affordable alternatives. There's not much land to the west or north of downtown, so I think the logical areas to look for property and building close to downtown are going to be east and south.

If it was a five-acre parcel, I think I would be very hesitant to try to build mid-range housing product in that location, but the fact that it's 50 acres means you can really create an environment that changes the character of the entire area. I think that's really the key to making this successful, because otherwise you're in kind of a sea of lower-income rental housing.

I think it reflects an aggressive positioning of the major national builders to capture market share. What they are doing is throwing a lot of product out in the market and hoping that the sales will match the starts.

House prices in San Diego have risen much more rapidly then in the U.S.. But, I think we can explain housing prices in most places, and if they're explainable that means we don't have a bubble.

Every truth passes through three stages before it is recognized In the first it is ridiculed, in the second it is opposed, in the third it is regarded as self-evident

Everything is self-evident.