... Despite the condominium-like amenities, the Brockman arrives at a suddenly tough time for apartments. The Downtown rental occupancy rate has plummeted from 96% in September 2007 to a current 85%, "which is very low," said Dolores Conway, director of USC's Casden Real Estate Economics Forecast. By comparison, Downtown occupancy dropped a seemingly small but still significant 2.7%, from 98.7% to 96%, between September 2006 and September 2007, Conway said...
...Conway noted that other statistics reflect a softening rental market. She said that the Downtown area has seen 5,400 move-outs in the past year, "reflecting very weak demand."
"I think we're starting to see some rent sensitivity on the part of the Downtown population," said Conway. "We're starting to see people double up in apartments. Also, as people get laid off they may move to cheaper areas."...