r jobs. They themselves may know people who have lost jobs. So we’re working to keep the morale of our associates up, to help them work smart and hard. We want them to know that if they hit all the items on price, product, promotions and passion, they’re doing the best they can.How is Riverstone coping with an extremely price-sensitive rental market?We know that if there is a $100 difference in rent between a current apartment and another one, a resident will move. So, in addition to giving the best customer service we can, we have to make sure our…

“Despite obstacles, basic multi-housing market fundamentals in San Diego have remained strong,” Grubb & Ellis reports. Area vacancies in September 2008 were at a miniscule 2.3 percent, down from 2.7 percent a year earlier (compared with a national average of 12 percent). Rental rates peak in the area at an average of $1,772 per month in the North County Coastal market, to an average of $1,074 in East San Diego.San Diego multifamily transactions have been concentrated around distressed or bank-owned properties, plus a few well-located sites. Recent deals include:• Bella Terra, 460 units, sold by RREEF to R&V Mgmt. for…

nt (Shaun Donovan, New York City’s former commissioner of Housing Preservation and Development) who understand rental housing, and are eager to make it a reality, says Greer. “There are a large number of people in our industry who are celebrating.”To comment, e-mail diana.mosher@nielsen.com