In this brief video, Conor Wagner of Greenstreet Advisors sits down with Matthew Bechard at NAREIT to discuss the multifamily (apartments) property sector. Highlights include:
- Green Street does is not expecting a material slowdown in multifamily supply growth in 2018 for the apartment sector.
- According to Green Street Advisors Analyst Conor Wagner, housing starts have not shown any real notable deceleration.
- Meanwhile, the economics of multifamily development still look attractive enough for new projects to get started.
- On the multifamily demand side, activity has slowed to be more in line with more muted job growth.
- Deceleration has been due to slower job growth, wage growth
- Banks are not lending as much, but preferred equity has stepped into the hold
- Supply growth relief for the sector will be modest