Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the April 8, 2009 edition of National Mortgage News online:
SoCal Apartment Exodus Outpaces Inflows
National Mortgage News online
...More renters moved out of apartments last year in Los Angeles County than moved in over the previous five years, according to a new report that finds the recession forcing Southern California landlords to lower rents and offer more valuable concessions. According to the Lusk Center for Real Estate at the University of Southern California, some tenants who still have jobs are taking advantage of fire-sale housing prices to become owners, while unemployed tenants are doubling up with family or friends...
..."The dramatic changes in the economy are taking their toll on landlords," said Delores Conway, director of the annual Casden Real Estate Economics Forecast...
April 8, 2009