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LOS ANGELES—“I am optimistic about multifamily’s future, but inflation is the big elephant in the room.” So said Marcus & Millichap’s CEO Hessam Nadji during a special presentation on Tuesday afternoon at the GlobeSt. Multifamily national conference here in Los Angeles.

Nadji reviewed the strengthening U.S. and California growth outlook, what it means for housing demand, rising development costs and how demographics will shape the multifamily outlook during his presentation. He also built a case for a stronger California multifamily market than the headlines would suggest.

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