If you’ve been looking to rent an apartment in Los Angeles in 2011 then beware as rents have sky rocketed beyond what it should normally cost. Hopefully you won’t find a dishonest owner, landlord or rental company who is trying to squeeze and extra $100 or 2. That’s what they’re all doing. The average price of a one bedroom in the prime L.A. area was about $1000-$1100 in January of 2011. Now in May of 2011 the price has gone up to $1200-$1300. What’s even worse that the prices have gone up, but the places aren’t worthy enough to be asking for that amount.
Everyone is broke and the economy is in the toilet. The government insists the economy is better and their are more jobs. This is not true. Many good people around me are still out of work and these are people who can normally land jobs without uttering a word.
If you can buy a property, that might be the better way to go since prices to buy are lower than usual and allegedly will drop a bit more this year. Take advantage of that while you can and before its too late. Although everyone is talking that home prices will eventually increase in a couple years. No one knows for sure. That is still a myth at this time.