NEW YORK CITY-Channeling the late NY senator Daniel Patrick Moynihan: “Jobs, jobs, jobs.” The creeping inroads the economy is making on the unemployment front can be as frustrating as it is hopeful. And for the multifamily sector, the direction employment takes will set the course for its continued health, and the brightening jobs picture is helping the sector. So says CBRE in its newly issued annual multifamily capital-markets report.
(Real Estate Forum covered the multifamily market from the infill development standpoint in its latest issue. Click here for the full story.)
Recognizing the inherent strength of the sector, and the likelihood that this will continue, the report does indicate that, “the sector compares favorably to other property types and continues to attract strong investor interest. Meeting future expectations, however, will require a balancing act between future job growth and new supply.” It all comes down to job growth and demand.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
