It wouldn’t surprise me if rents flatten out over the next few years, especially downtown. But rents rarely actually decline in a decent market (in nominal terms) and if they do it’s under extreme duress. For example, rents plummetted (like 30%+ in some cases) in Texas back in the mid-80s after the oil bust. But it’s hard to envision rents here going down more than a couple of percentage points unless something really dramatic occurs.
