No they are not happy. This is why there are deals on apartments in many buildings with vacancies. A great example of this is the big "L7" complex that just s

No they are not happy. This is why there are deals on apartments in many buildings with vacancies. A great example of this is the big "L7" complex that just started renting the first finished units at 8th and Harrison. Those studios are advertised as $3000/mo but with two free months now given to those who lease for a year which means they are actually $2500/mo units. This kind of gaming is going on all over the market and there will probably be some property owners slash bag holders selling off assets and being restructured in order to get through this. Much of the recent construction was based on the idea that the market could support any amount of luxury units that were built. The current slump is testing that.