Predicting which way the market winds will blow by mid-October, when the GlobeSt. Multifamily Fall 2023 conference will take place in Los Angeles, is not easy in the current environment, but Kyle Crown expects that the situation will not be substantially different by then.
That means the challenges brought on by low occupancy/high vacancy rates in multifamily will feature heavily in the discussions.
"We've been in such an environment for the last decade-plus where rates just keep going up and up that in LA especially that's just been a given and all of a sudden we're seeing that slow or even stopping in certain segments of the market, and so there's a little bit of a vacancy-occupancy concern," says Crown, who is president of Los Angeles Property Management Group.
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