Despite talk of an “apartment bubble” at conferences on each coast and in closed-door investor meetings, the multifamily market is in no danger of being overbuilt, according to research from Jones Lang LaSalle and other industry experts. JLL’s Jubeen Vaghefi, international director and leader of JLL’s multifamily capital-markets group, spoke to GlobeSt.com during last week’s NMHC Apartment Strategies Conference here and reassured us that the so-called apartment bubble was not likely to burst any time soon.
JLL’s research shows that development of multifamily space across the US has been unabashedly robust over the past year, leaving many anxious about the impact it will have on market conditions, and with nearly 200,000 multifamily units delivered nationwide in 2012, it’s a legitimate worry. But the number necessary to sustain demand fell short by 100,000 units, and a study of historical delivery levels points to a healthy outlook for 2013 and well into 2016.
Read more...Experts: ‘Apartment Bubble’ a Myth - Daily News Article - GlobeSt.com
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