Economy Focal Point for Multifamily Pros

LOS ANGELES—Jobs and economic uncertainty were the buzzwords of the morning at the RealShare Apartments 2012 conference, taking place here today. More than 1,700 attendees gathered at the Westin Bonaventure Hotel to hear dozens of industry experts give their thoughts on the state of the multifamily market.

After a brief welcome from Michael Desiato, VP and group publisher of ALM’s Real Estate Media Group, Hessam Nadji took the stage to deliver a special presentation, “Can Apartments Withstand the Economic Headwinds?” the Marcus & Millichap SVP and managing director noted that the organic strength of economy—both corporate and consumer spending—is being held back by political uncertainty. But, he added, the foundation of economy in better shape. The US added 1.8 million jobs between September 2011 and Septeber 2012, though unfortunately the headlines were dominated by the debt and housing crises.