And in San Diego from Zach Fox at the NC Times: HOUSING: Rents falling as vacancies rise at major complexes
A handful of big local apartment complexes have cut rents in an attempt to fill empty units …
Tradition, an apartment complex near the Aviara Golf Course in Carlsbad, has cut its asking rent for a three-bedroom apartment from $2,015 to $1,799 per month, said Kris Nelson, business manager for the complex.
Tradition has seen its vacancy rate rise from a fairly consistent 3 percent to 8 percent recently, Nelson said.
…
In Temecula, Somerset Apartments has seen its vacancy rate shoot up from 3 percent to 20 percent. Managers responded by slashing rents by 25 percent for two bedroom, two bath apartments —- from $1,200 to $900 per month.
