News of the Week; Rental Market
Los Angeles Business Journal
...The latest USC Casden Forecast reports that the average residential rent in Los Angeles County fell almost 4 percent in 2008 as apartment occupancy rates dropped and new units came online. The average one-bedroom apartment in Los Angeles rented for $1,397 a month at the end of last year. The study said the decline will continue this year as homes prices fall, enabling more renters to buy, and other renters lose their jobs and move in with family or friends. Rents should level out in 2010 as the economy recovers, the study predicted...
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