March 31, 2006
Los Angeles -- Slow and steady gains in the overall Southern California economy will continue to push up apartment rents and occupancy rates that now rank among the highest in the country, according to the Casden Real Estate Economics Forecast released by the University of Southern California Lusk Center for Real Estate.
"The recent run-up in home prices makes apartment living more desirable," said Delores Conway, Ph.D., director of the Casden Forecast. "And the tight supply of land coupled with more condo conversions means fewer available units. That translates into higher rents and occupancy rates for the next couple of years."