[quote=TheBreeze]Don’t know much about Temecula, but the decline in rents seems to be accelerating in my area. A month or so ago, two bedrooms seem to be about $150 or so cheaper than comparable places last year. Now it seems more like $300 cheaper.
It wouldn’t surprise me to see some of the apartment complexes get foreclosed upon.[/quote]
Some of the recently built for sale complexes are already being rented with agreement from the lender that financed the project. Instead of closing out the loan with sales, or more likely foreclosing, the lender is getting payments from rents.
