Friday, January 9, 2009

More rental supply + less demand = falling rents

Housing: Declining Rents (US)

After rising for several years, rents in the Los Angeles area are declining because of the economic recession and depressed home prices, researchers, real estate agents and property managers say. The lower local rents match a national trend, according to a report released Wednesday showing apartment rents fell in 54 out of 79 U.S. metropolitan areas in the fourth quarter of 2008. Softening rents add another obstacle to a housing market recovery, economists say, because tenants with low rent payments feel less urgency to buy a home.

Posted by drewster @ 01:17 AM (590 views)
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One thought on “More rental supply + less demand = falling rents

  • stillthinking says:

    Rents will go lower but they won’t collapse in the London. They are ultimately held up by government social security spending. Ironic but true. People need assistance from the government because the government itself has pushed the price up.. !*!
    Also, they didn’t drop that much in Tokyo even though property prices fell 80%.

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