Riverside County real estate rents expected to stay put for a year
Valley News
...Inland Empire residents who rent their properties shouldn't feel any increasing pressure on their pocketbooks anytime soon, according to a real estate forecast released last week.
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 one 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.
Seslen said San Diego County will be the only regional market where rents edge higher, largely due to rebounding job growth, particularly in biotech, and higher-priced homes deterring prospective buyers. "The future health of the Southern California multifamily market continues to be shaped by jobs, housing prices, the 'shadow' market of rental homes and condos and new construction," she said...