I’m not sure that rents overall are going down. It seems that they are going down in certain complexes in UTC, mostly because of massive supply and not enough demand. It seems like 90% of the condos I see for rent on Craigslist are in either Verano, Villa Vicenza or The Venetian. I guess most of the owners that bought there were buying them as investments and now they can’t find anyone to rent them either. Personally I hate condo conversions and wouldn’t want to live in any of those places unless it was ridiculously cheap.
