PALO ALTO, CA—With the recession beginning to become a memory of the past, the demand for housing is on the rise, and with it is the explosive interest in the multifamily market. That is according to Michael C. Polentz, co-chair of the real estate and land use practice group at Manatt, Phelps & Phillips LLP, located in the Palo Alto office. And according to Payvand Abghari, an associate in the real estate and land use practice group at Manatt, Phelps & Phillips LLP, located in the Orange County, CA office, “as more and more Americans are choosing to marry later and postponing having children, the market has seen a significant increase in one- and two-person households and a resulting decline in the demand for the higher square footage single family residence among Millennials.”
Enter the condominium: low-to-moderately priced housing in urban areas, where the average price of a home is out of reach for many, and where homeowners can build equity while still enjoying the luxury and convenience of on-site amenities (for a pro rata share in maintenance costs), they say. In the exclusive column below, the pair looks at condo demand, restrictive covenants and more.
The views expressed below are the author's own.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
