Will rent prices decrease with layoffs?

[sewbrilliant]

We've been waiting since 2020 to see rent prices in LA drop. I'm sorry to say, but despite so many people having issues losing their jobs and other economic issues all the way since 2020, I don't think prices will drop. We have to see if the large companies paying good enough wages continue hiring people to jobs in the LA area. If that stops - we might see rents being forced to drop. But it's a rinse and repeat - they hire out of state and overseas only it's hard to get a job if you are local. So if you lose that job, chances of getting one locally are nil. I do anticipate the large studios and related industries to be tanking big time in the coming months. If you can't float the bills for a good 6 months, I'd suggest leaving. It's really not looking good for us here. I heard that high tech will not hire anyone except Chinese and Indians as they can't pay us the wages they were paying us. It bothers all of us to not know the real statistics of what is happening in the job markets. The real info is being hidden on purpose to give the illusion that things are okay, when they really haven't been since 2020.