The average L.A. County rent is predicted to soar nearly 10% by the end of 2013. Rising rents could help usher in a housing market recovery if enough renters take the plunge into buying.
Fickett Towers apartments sold in Van Nuys
Rents are predicted to remain largely flat for Southern California's market through 2012, according to a forecast by USC's Lusk Center for Real Estate.
Police clear unruly crowd after demonstrators disrupt meeting. Lawmakers' 10-5 vote cleared the way for a 3% increase on July 1.
Depressed apartment market attracts adventurous investors
Southern Californians facing the loss of their homes are finding refuge in rentals. At larger apartment complexes, monthly rents have declined an average of 4.9% in the last year.
It's a renter's market, so get ready to negotiate that lease
.A. County's vacancy rate rose to 5.3% in the first quarter. As more Southland apartments go empty, property owners are more willing to negotiate lease details.
Only four states have a higher unemployment rate than California, the U.S. Labor Department says. The national jobless rate is 9.4%.
Delinquencies are snowballing on construction loans and mortgages for office buildings, malls and apartments. The trend is particularly worrisome in Southern California.
Unemployment hot spots all over the map, but worst states share housing, manufacturing pain
More Than 2,000 Dwellings Foreclosed Upon In Past 18 Months
Nearly 15,000 jobs were lost in July because of ongoing slowdowns in construction, real estate and financial services.