Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted April 8, 2009 on CBS2.com KCAL9.com Los Angeles:
USC: L.A. Rental Prices Fell Nearly 4% in 2008
CBS2.com KCAL9.com Los Angeles
...Rental rates across Los Angeles County and much of Southern California fell in 2008, researchers at the University of Southern California announced Wednesday in a forecast released.
The Casden Real Estate Economics Forecast, which was released by USC's Lusk Center for Real Estate, covered Los Angeles, Orange, Riverside, San Bernardino and San Diego counties.
"In L.A. County alone, 41,000 people moved out of apartments last year compared to the 29,000 who moved in over the past five years," Delores Conway, director of the Casden Real Estate Economics Forecast at USC's Lusk Center for Real Estate said.
"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 8, 2009