The mood was optimistic as multifamily executives assembled at the National Multi Housing Council (NMHC) Apartment Strategies Conference for a look ahead at what’s next for the industry in 2012 and beyond. The pace of rent growth is expected to ease in 2012 but still maintain levels above the trend. “The recovery that was predicted a couple of years ago has come to pass. Now the question is whether it will be as good as we predicted,” said Mark Obrinsky, vice president of research and chief economist, NMHC, who moderated “Looking Ahead: What’s Next for the Apartment Recovery?”
“The general forecast as consensus would have it,” added Obrinsky, “seems reasonable to me.” Provided there’s no economic meltdown in China and no break-up of the Euro Zone, we can expect GDP growth that’s better this year than in 2011; but at 2.5 percent, that would be a bit less than the long-term average.
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