Delores Conway, Director, USC Casden Real Estate Economics Forecast, is quoted April 8, 2009 in the OC Register:
More O.C. apartments to go begging for renters
OC Register
By Jonathan Lansner and Jeff Collins
...Vacancies in Orange County apartments are expected to rise to 7.6% this year from 6.4% in 2008 as rising unemployment and foreclosure-buyers reduce rental demand, reports the latest USC Casden Real Estate Economics forecast released today.
"We haven't seen the vacancy rate this high in probably 10 years since during the 1990s recession," says Delores Conway, director of the Casden forecast. She expects the local vacancy rate to edge down to 7.3% next year.
Conway cites the economic downturn, particularly the loss of higher-paying mortgage and real estate jobs, for the pressure on the apartment market...
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