Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted on April 8, 2009 in GlobeSt.com:
Study Forecasts Falling Apartment Rents
GlobeSt.com
...The recession is depressing rents throughout the Southland, except for San Diego County, and the trend will continue, according to the Seventh Annual Casden Multifamily Conference-Emerging Opportunities in Public-Private Partnerships. Speakers at the event, which was conducted by the University of Southern California's Lusk Center for Real Estate, explained the factors behind the declining rents and presented their outlooks for the Southern California and US multifamily markets in a series of panel discussions Wednesday.
Against a backdrop of statistics showing that rents fell in Los Angeles, Orange, Riverside and San Bernardino counties in 2008 while rising in San Diego County, Casden forecast director Delores Conway said that multifamily demand should continue to decline with rising unemployment in Southern California this year, except for San Diego, where a 1% increase in rents is expected. She said that rents should begin stabilizing in 2010...
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April 8, 2009