Apartment vacancies, rents likely to drop
San Gabriel Valley Tribune
By Kevin Smith
...Apartment vacancy rates in Los Angeles County will continue to decline this year with rents also weathering further erosion, according to a report released Wednesday. A slew of USC faculty experts and other top industry players gathered Wednesday to assess the market at the Casden Real Estate Economics Forecast at the Omni Los Angeles Hotel.
The event was presented by the USC Lusk Center for Real Estate.
According to the report, average rents in Los Angeles county will decline another 3.5 percent in 2010. The region is expected to see a total decrease of 5.2 percent between the fourth quarter of 2009 and the fourth quarter of 2011. Some areas aren't seeing any growth in the construction of apartments...