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High-tax urban locations may lose residents to the suburbs in some parts of the country, write Reis' Victor Calanog and Barbara Byrne Denham in a new white paper.
Despite general pricing inflation lately, "the markets do not appear to be suffering from the irrational exuberance that has characterized the end of other expansions,” Transwestern's McNearney says.
The outlook for Oakland remains strong for rent growth and long term, as the center of global tech, the top three Bay Area cities will continue to be among the most dynamic office markets in the nation.
The town is attracting retail and office development because it is a high-income area with a large suburban population and has town leadership that promotes and encourages high-quality development.