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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Jim Fleming who wrote (6037)5/10/2004 9:43:00 PM
From: Elroy Jetson  Read Replies (1) | Respond to of 116555
 
It's interesting that you're seeing weakness in the residential rental market at the same time rental pricing in Los Angeles is slipping. Just over the past 3 to 4 months.

Now that Boston and Los Angeles rents are slipping, declines in residential rents are occurring in every major U.S. market.

It seems clear to me that real estate has finally outrun the income to pay for it. Now real estate sales prices should begin declining as well.