The pandemic aside, multifamily investors have been strategically exiting the West Coast region in favor of growth markets in the Sunbelt. However, it is likely too soon to write-off the region altogether, which continues to suffer from a tremendous housing shortage, according to Edward Ring of New Standard Equities.

There are a myriad of reasons why investors have chosen to flee the West Coast, despite the fact that is continues to house some of the most dense metropolitans in the country. “For the last four years or so, the political climate in the west has turned off many investors,” Ring, the CEO at New Standard Equities, tells GlobeSt.com. “Rent control, tenant friendly eviction regulations and, in the last two years, onerous COVID-19 rules that were perhaps designed with good intentions have created a lot of unintended consequences that most certainly have negatively impacted housing providers. Many investors are somewhat spooked.”

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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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