Apartment building prices are down:
“…the US apartment market has finally begun to decline in earnest”Multifamily will be at the forefront of the commercial real estate recovery:
“Short lease terms in the multifamily sector enable performance to reflect economic upticks quickly”The ‘echo boom’ generation will drive rental demand:
“In the next 10 years, echo boomers will cause roughly two million household increases among the 25 – 34 year olds, traditionally a vital renter cohort”Other forces favoring the Los Angeles multifamily market:
- Traditional low vacancy rates
- Low homeownership rate going forward
- Low permit activity for multifamily in Los Angeles County
- “Floor” established in residential market
- Hedge against possible future inflationary environment
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