Falling rents in Southern California
March 01, 2023
Rents have fallen about 1% in Los Angeles and Orange counties over the past three months… UC Irvine real estate analyst [and professor of economics for Merage School of Business] Ed Coulson tells KNX renters are realizing they no longer need to live in LA in order to have an LA job. “Part of this, is, of course, people realizing that they don't value California as much as they would have to in order to pay the high rents that we have here. And so, if you can work remotely, you can choose your location and maybe you don't want to live in a high-amenity, high-rent area like LA or San Francisco,” says Coulson.
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