Hello Investors, if you attended or you did not know about the National Multifamily Housing Council’s 2019 Apartment Strategies Outlook Conference in San Diego, Ca where panelists discussed their outlook for the market based on last year’s performance and thus help you make smart investment decisions.
Here is some keypoints about this conference. Pay attention to the statistics.
The multifamily industry is full of transition and those investing in the sector need to adapt. With changing trends in the market surrounding the economy, demographics and the evolution of renters, companies today need to focus on how to strategize in order to get the biggest return on investment. At National Multifamily Housing Council’s 2019 Apartment Strategies Outlook Conference in San Diego on January 29, thousands of attendees came together to discuss the multifamily outlook for 2019.
In 2018, there were 2.6 million jobs, marking a 1.7 percent growth. According to Kim Bentancourt, director of Economics and Multifamily Market Research at Fannie Mae, this influx of jobs and the Millennial generation are driving the demand for multifamily. “There are 83 million Millennials and only 75 million Baby Boomers, so that demographic is shifting and this is still our core market of renters.” Solid market performers going into 2019 include Las Vegas, Orlando and Phoenix.
Norm Miller, Ernest W. Hahn chair of Real Estate Finance for the University of San Diego, shared his thoughts on the long-term demand for multifamily. “The economy will be fine this year. It’s like an iceberg, it moves slowly.” The market is healthy, with lowering ownership rates due to demographics, student debt and tax law changes.
In the Moment, For the Moment,
Christian Yepez, Investor/Syndicator
Los Angeles, Ca