Research Briefs

USC Lusk Center Casden Real Estate Economics Forecast Predicts LA Region Apartment Rents Will Increase Through Late 2004

Submitted by lusk-admin on

- Average monthly rents expected to increase by about 12%

LOS ANGELES (Business Wire) – The Los Angeles region’s apartment dwellers could face more rent hikes in coming months, with little relief in sight. Average monthly apartment rents in Los Angeles County, Orange County and the Inland Empire are expected to increase from 8 percent to 15 percent through the third quarter of 2004, according to the Casden Real Estate Economics Forecast released today by the USC Lusk Center for Real Estate (www.usc.edu/lusk).

Hot Market for Houses May Cool in Santa Barbara, Calif.

Submitted by lusk-admin on

Article by Maria Zate

Judy Pirkowitsch paid $ 244,000 for her house in Santa Barbara in 1994, back "when no one wanted to buy houses," she recalls. But times have changed, and she could easily sell her house now at triple the price.

Rapid home price appreciation in recent years, however, is beginning to worry Ms. Pirkowitsch and others who say that the current housing market frenzy resembles the stock market mania of the late 1990s.

"Back then stock prices were out of control and home prices seemed reasonable," said Ms. Pirkowitsch, a financial adviser with American Express.

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