USC Casden

LOS ANGELES—Southern California should expect another two yearsof growth in the multifamily sector, according to experts at theUSC Casden Multifamily conference. While there have beenreports forecasting a slowdown in the bullish multifamily marketthis year, Raphael Bostic, interim director of the USC LuskCenter for Real Estate says not to expect the local market to letup.

“Despite rising home sales and increasing multifamilyconstruction, growth in population and employment is keeping demandfor rentals very high when compared to new inventory entering themarket,” Bostic tells GlobeSt.com. “Developers have been able torespond to the quickly changing economic outlook, bringingmultifamily construction to pre-recession levels with the help ofan 18% increase in permits for construction. Millennial demand formultifamily housing in particular should remain strong in thecoming years, adding to the market's active growth. Savvydevelopers must react promptly and look toward submarkets to buildand fulfill that demand.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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