Inland Empire residents who rent their properties shouldn't feel any increasing pressure on their pocketbooks anytime soon
City News Service
...The USC Lusk Center's Casden Multifamily Market Forecast indicates rents in Riverside and San Bernardino counties will be flat in 2010, falling an average 1 percent or less through the end of 2011.
"Overall, Southern California will not see increases in rents until the greater economic health of the region improves," said Tracey Seslen, co-author of the forecast...
...The Riverside-San Bernardino-Ontario metropolitan area ranks in the top five nationally in foreclosure activity, and foreclosed and abandoned homes are being snapped up, according to the report.
But the area's languishing economy is keeping "many first-time buyers on the fence and move-up buyers that lost equity are staying put," Seslen said.