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Rent Check

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Citing a new USC Casden Forecast report, the Los Angeles Times' Roger Vincent reports that the average rent in Los Angeles County dropped 4 percent in 2008. According to the study, more people are moving in with friends and family or buying foreclosures, while neighborhoods like Hollywood and Downtown are seeing more notable rent decreases because condo projects in the area have gone rental. Additionally, landlords are more willing to give concessions (as pictured, downtown development Piero was recently offering two months of free Tuscan living.) Overall, at the end of 2008, a one-bedroom apartment in Los Angeles rented for $1,397 a month, according to the paper. [LA Times]