is the recession affecting rent prices at all? (apartments, rentals)

[mark420]

hi everyone. i currently live in west la(palms) with a roommate. fortunatly he has been here for a while so I pay only $740 a month($1480 total). other 2 bedroom units go for $1800 in this building which is pricy. anyhow i am looking to move out and wanted to know if i should do it now or wait till sometime middle of next year to get a good rate. fortunatly for me i have a great job in downtown and will be making at least 65k with no debt by jan. i want to live somewhere that is nice, and commutable by train(red or blue line station nearby). i can live with my parents for a few months if i have to. my budget is between $1000-1100. thanks

[katenik]

you can find a place in that price in koreatown right now. i leave it to you to decide if that meets your definition of "nice."

[bhcompy]

rent has been going up from where i am, but also a lot of vacancies.. not sure if they are correlating.

you can probably find rent for that amount near the blueline termination point in long beach

[mark420]

yeah ive been seeing alot of vacancies myself, ive been eyeing an apt in paramount the past few months(ok area not great but apt is really nice) and they have dropped it from 1350 to 1000 so im just wondering whats going on.

are there any 'tips' to get lower rates on apartments other then browsing the usual sites?(westsiderentals, craigslist) i know when buying property one can get some really good deals if someon knows the system.

[Green Irish Eyes]

There's an apartment available in my building -- at $1,250 in a more-or-less-OK-but-not-terribly-wonderful neighborhood, I think it's overpriced. Also, the landlord plans to wait for "the right kind of person" to take it.

It'll be interesting to see how long it takes to rent.

[harhar]

I too have been seeing a lot of vacancies. But rent has remained the same.

[BennyPhoenix]

Rents are remaining steady in the bldgs I manage. Vacancy rates are about the same as the past few years. When the vacancy rates go up then the rents may drop. In general landlords give free rent for a month or two rather than lower the rent.

[mark420]

is there anywhere decent to live near the blue or green lines? doesnt look like it. the only place that comes close is bixby knolls. i have a strong preference to live in the southbay.

[bayarea-girl]

Rent might start to decline and vacancies increase since new jobs aren't being created. The high rate of unemployment might cause people to move away to some place cheaper or move in with relatives or roommates.

[Radical Raul]

Rent's will decrease because no one can afford to pay the current rent prices.