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“Despite marked improvements in employment and the overall economy, the rapid increase in home prices and interest rates are pricing first-time home buyers out of the local market,” said Richard Green, director of the USC Lusk Center for Real Estate.
“As more and more of these households become renters instead of buyers, we will continue to see fewer vacancies and higher rents,” Green said.
By Roger Vincent
Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank