"The multifamily market might be headed for a slowdown next year. According to a new economic letter from UCLA Anderson Forecast and UCLA Ziman Center for Real Estate, slowing job growth could hamper apartment demand and stall rental rates in 2020—and investors should start shifting investment strategies to react to the slowing economy.
"'Job growth is going to slow down dramatically, and that will slow down demand,' David Shulman, senior economist for the Ziman Center and UCLA Anderson Forecast, tells GlobeSt.com. "The economy and the real estate industry has been used to 200,000 jobs a month gain on average. Even with the 75,000 jobs gain last month, we are still averaging 200,000. That [job growth] drives office demand and it drives apartment demand.'"
Recent Comments