Are apartment prices expected to go down?

[Adirondak]

I'm in Los Angeles, found an apartment for the exact same rent I am paying now, but it's about twice the size. I'm in no rush to move, so I'm wondering if I should hold off on getting this bigger apartment. If prices were to fall in the coming months, it may not be the best idea.

Anyone know if apartment rental prices are expected to fall during this time of crisis?

[Roderick]

I'm not sure about that, but its better to wait for some time, if the things are going on our way, like if the apartment rental prices are down, u can do what u want to ?

[atomicrc11]

Here in Northeast apartments are becoming more scarce. This is due to people losing their homes in forclosure and then needing to find a more affordable place to live, so they rent. It all depends on where you live.

[red92s]

Originally Posted by atomicrc11

Here in Northeast apartments are becoming more scarce. This is due to people losing their homes in forclosure and then needing to find a more affordable place to live, so they rent. It all depends on where you live.

Yep. I'd expect apartment prices in many areas will rise . . . or rather, continue to rise as this has already been observed many places. Many, many people are flocking to more affordable housing options as the "renting is just throwing money away" and "owning a home is always a better investment" mentalities continue to erode.

[supercheap]

Originally Posted by atomicrc11

Here in Northeast apartments are becoming more scarce. This is due to people losing their homes in forclosure and then needing to find a more affordable place to live, so they rent. It all depends on where you live.

As long as wages and jobs in your area are up so will be rents. Supply vs demand. However with so many people losing thier jobs nation wide and everbody looking at wage cuts look for a decline in rental price. Also almost all the people I know who have lost thier home have moved in with family or friends. Long run, look for apartment rents to fall

[Adirondak]

In Los Angeles - wages and jobs are pretty down. Rent prices have already fallen but not by much. And in the 5 years I've lived here they've soared.

[PetMom]

here in North Texas area.

In my sis's complex they don't even have any vacancies. They were in a position to not do as much negotiating as they do when several apts. sit empty. They also have gotten a little boldly lax on their upkeep of the apts. and grounds.

Everyone fleeing from their bad mortgages of their big houses are fleeing to the apts. as there are very few selections of modest sized houses in afordable ranges.

The apts. have done better in this mortgage crisis.

[segmond]

it depends on the area, in some parts of the country, people are moving out so prices will fall, in some parts, people are moving in so prices will rise. what I have noticed tho is that rent for commercial properties have fallen, because a lot of businesses who's lease are up and relocating to new locations. so pay attention to your area, it may be up or down, if your lease is up and you can get something bigger for cheaper or same price, why not? if you renew your lease you would end up being stuck for another 6 or 12 months and by then, you can't tell what position the market will be in. good luck.

[Aleta]

I think as others have said that it depends upon where you live and the scarcity of places to live. There are people where I live that are renting in lieu of buying and there are others that are being foreclosed and are being forced into the rental units.

I'm sure that the government will come in and assist those in need of housing. The only problem that I could forsee would be if the government would set or cap rental fees which I would see as very heavy-handed.