Talk to most people in the industry about the state of the economy and business growth, and the number-one lament is about the lack of job growth. Of course, employment is the driver behind space absorption across all sectors. Jobs fill office space. Without jobs, people can’t spend money in retail stores. Or pay rent.
But in terms of employment, the multifamily sector seems to be in a good position at this stage on the cycle. Unemployment may still be an issue in most markets across the US, but for young adults—the prime renter cohort—more jobs are becoming available.
That was the recurring observation made by most folks I spoke with at last week’s RealShare Apartments 2010 Conference in Los Angeles. When asked about job growth, many property owners and operators shared that even in weak markets, their renters are finding jobs. Anecdotal and factual evidence shared in both conversations and panel sessions during the conference show that occupancies for traditional apartments in most metros are rising, thereby allowing for rent growth as well.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
