Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the April 10, 2009 edition of Thai Press Reports:
United States: Apartment Rents Fall in Southern California as More Tenants Get Evicted
Thai Press Reports
...The annual report by the University of Southern California found that the average rent in the Los Angeles area fell nearly four percent in 2008 as apartment occupancy rates dropped and new units came on the market.
"In Los Angeles County alone, 41,000 people moved out of apartments last year compared to the 29,000 who moved in over the past five years," said Delores Conway, director of the Casden Real Estate Economics Forecast at USC's Lusk Center for Real Estate.
"The dramatic changes in the economy are taking their toll on landlords, who are lowering rents or giving concessions just to keep their units occupied," she said...
April 10, 2009