Despite Overall Economic Struggles, Multifamily Foundation Looks Strong
Multifamily Executive, By Christine Serlin
While the fundamentals are adjusting for the multifamily market, the foundation is still solid, and industry experts are optimistic looking ahead to the long term.
“As we go through this economic cycle and we look over the next year or two, I’m very optimistic about how multifamily is going to play out because I think the demand is going to remain extremely high,” John Sebree, senior vice president, national director at Marcus & Millichap, told attendees during the virtual Multifamily Executive Conference’s Economic Outlook session at the end of September. “We can have a quarter or two that is soft with some uncertainty, but the underlying fundamentals are very strong.”
At the macro level, Ryan Severino, chief economist at JLL, noted that he believes the recession is over, with the data getting consistently better over time and a prediction for some positive results out of the third quarter.
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