New apartment building going up instead of luxury condo

The SD Union Tribune reported today that KB Homes will not build a high-rise in San Diego.  Instead, Affirmed Housing will move in and create affordable housing rentals which will be available in a couple years.  This move by KB Homes is largely due to the current condition of the real estate market here in San Diego.  San Diego condos have been sprouting up all over the city over the last several years yet developers are having a tough time selling out their units.  Will this be a growing trend?  Will more apartments be erected instead of new condo developments?  Maybe developers should keep on building high-rises that can adjust to the market.  Meaning, should developers build build apartments and once conditions improve, convert them to condos?  You may get some resistance from current tenants but it couldn't hurt to consider this.

If you want to read more about this in the Union Tribune, you can here: http://www.signonsandiego.com/news/metro/20070924-9999-1m24switch.html