Housing downturn hits L.A.-area rents

[Ex-SD]

I based the correlation between the two markets on the predictions from several magazines and other printed sources that San Diego housing prices will fall 20% – 25% in 2009. Since L.A. home prices are continuing to drop and rents are dropping there and the predictions about SD are correct, housing sales will increase in San Diego, forcing landlords to compete with a lower cost of ownership vs renting. Unless San Diego sees a huge population increase that eats up vacant rentals that will occur from increased home sale, it is likely that rents will begin to drop. How much, I don’t have a clue but this scenario is a sure fire method to ignite a decrease in the rental market.

[peterb]

Rents are always the last thing to drop as people have to live somewhere. Usually, rents will decline when unemployment gets high enough, that people start to share housing to defray costs and then actually leave the area for work. CA tends to do this because it usually leads the nation in unemployment. So the temptation to leave the state for cheaper living and more jobs is a factor that should drive rents down.

[peterb]

Rents are always the last thing to drop as people have to live somewhere. Usually, rents will decline when unemployment gets high enough, that people start to share housing to defray costs and then actually leave the area for work. CA tends to do this because it usually leads the nation in unemployment. So the temptation to leave the state for cheaper living and more jobs is a factor that should drive rents down.

[peterb]

Rents are always the last thing to drop as people have to live somewhere. Usually, rents will decline when unemployment gets high enough, that people start to share housing to defray costs and then actually leave the area for work. CA tends to do this because it usually leads the nation in unemployment. So the temptation to leave the state for cheaper living and more jobs is a factor that should drive rents down.

[peterb]

Rents are always the last thing to drop as people have to live somewhere. Usually, rents will decline when unemployment gets high enough, that people start to share housing to defray costs and then actually leave the area for work. CA tends to do this because it usually leads the nation in unemployment. So the temptation to leave the state for cheaper living and more jobs is a factor that should drive rents down.

[peterb]

Rents are always the last thing to drop as people have to live somewhere. Usually, rents will decline when unemployment gets high enough, that people start to share housing to defray costs and then actually leave the area for work. CA tends to do this because it usually leads the nation in unemployment. So the temptation to leave the state for cheaper living and more jobs is a factor that should drive rents down.

[arnie]

My wife works in property management (about 1000 units in San Diego) and tells me that occupancy is down over the last few months and continues to fall. As this continues to occur, it’s only a matter of time before rents follow suit.

[arnie]

My wife works in property management (about 1000 units in San Diego) and tells me that occupancy is down over the last few months and continues to fall. As this continues to occur, it’s only a matter of time before rents follow suit.

[arnie]

My wife works in property management (about 1000 units in San Diego) and tells me that occupancy is down over the last few months and continues to fall. As this continues to occur, it’s only a matter of time before rents follow suit.

[arnie]

My wife works in property management (about 1000 units in San Diego) and tells me that occupancy is down over the last few months and continues to fall. As this continues to occur, it’s only a matter of time before rents follow suit.

[arnie]

My wife works in property management (about 1000 units in San Diego) and tells me that occupancy is down over the last few months and continues to fall. As this continues to occur, it’s only a matter of time before rents follow suit.

[dbapig]

Very interesting. I’ve been living in a med size apt complex near West LA. It’s not dumpy enough that they can use ‘Luxury’ in the name of the apt complex. It’s 50 unit complex and recently (within the past month) they put up a sign promising $300 for referring a friend to rent a unit in the complex.

I’ve been at this unit about 1+ yr and it was 1st time I saw the sign. During the first few months I’ve been living here, any place that opened up was rented out pretty quickly.

I know a person (think a student) moved out to live with her boyfriend. Probably to save $.

[dbapig]

Very interesting. I’ve been living in a med size apt complex near West LA. It’s not dumpy enough that they can use ‘Luxury’ in the name of the apt complex. It’s 50 unit complex and recently (within the past month) they put up a sign promising $300 for referring a friend to rent a unit in the complex.

I’ve been at this unit about 1+ yr and it was 1st time I saw the sign. During the first few months I’ve been living here, any place that opened up was rented out pretty quickly.

I know a person (think a student) moved out to live with her boyfriend. Probably to save $.

[dbapig]

Very interesting. I’ve been living in a med size apt complex near West LA. It’s not dumpy enough that they can use ‘Luxury’ in the name of the apt complex. It’s 50 unit complex and recently (within the past month) they put up a sign promising $300 for referring a friend to rent a unit in the complex.

I’ve been at this unit about 1+ yr and it was 1st time I saw the sign. During the first few months I’ve been living here, any place that opened up was rented out pretty quickly.

I know a person (think a student) moved out to live with her boyfriend. Probably to save $.

[dbapig]

Very interesting. I’ve been living in a med size apt complex near West LA. It’s not dumpy enough that they can use ‘Luxury’ in the name of the apt complex. It’s 50 unit complex and recently (within the past month) they put up a sign promising $300 for referring a friend to rent a unit in the complex.

I’ve been at this unit about 1+ yr and it was 1st time I saw the sign. During the first few months I’ve been living here, any place that opened up was rented out pretty quickly.

I know a person (think a student) moved out to live with her boyfriend. Probably to save $.

[Author]

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