Those giant new apartment complexes in Temecula and Rancho Cucamonga are filling up, reports Commercial Property News, so the IE can expect some rent hikes:
With rebounding occupancy in 2008, rent growth should escalate well above the lackluster pace of 1-2 percent seen recently, according to YieldStar. Foreclosures are returning some homeowners to the apartment market, too. Sperry Van Ness expects 2008 effective monthly rents in the Inland Empire to gain 4 percent on average. At least those foreclosure victims can find work out in the IE, with 50,700 new jobs added in 2007. Maybe that'll keep 'em off the 10.
· 10 Hot Prospects for 2008 [Commercial Property News]
· The Inland Empire, Demystified, in a Backhanded Way [Curbed LA]