The Rental Market Tug-of-WarBy
There are two schools of thought on what will happen to apartment rents now that the housing market is slowing. The University of Southern California's Lusk Center for Real Estate came out with a report last week predicting that rents will pick up steam. So many people buying homes kept a lid on rents in recent years. That's beginning to change. The USC researchers predict that rents in Los Angeles, for example, will climb 5% this year from the citywide average of $1,470 a month. Afterall, occupancy rates are a healthy 96%. They are predicting that, even though some 6,000 new units are under construction, including a lot of projects near public transporation lines. Good news for commuters!
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