LOS ANGELES—Don't discount wage growth when factoring affordability, Angela Kleiman, EVP and CFO at Essex Property Trust advises during an exclusive video interview at RealShare Apartments. Tenants concerns about affordability was one of the major topics discussed on the Industry Leaders: View From the Top pane, which included Kleiman and other major apartment owners and investors. Supply and job growth are typically garnered as the two key elements to tracking affordability problems, but Kleiman says that wage growth is an important element that cannot be discounted.
While wage growth can't be discounted, creating a supply/demand balance is the true solution to the affordability issue, she says, rather than city regulations, like rent control. The conversation also moves to discuss affordability issues for developers and property owners, including rising construction costs.
Press play to hear more of Kleiman's view from the top in this exclusive video interview from RealShare Apartments.
LOS ANGELES—Don't discount wage growth when factoring affordability, Angela Kleiman, EVP and CFO at Essex Property Trust advises during an exclusive video interview at RealShare Apartments. Tenants concerns about affordability was one of the major topics discussed on the Industry Leaders: View From the Top pane, which included Kleiman and other major apartment owners and investors. Supply and job growth are typically garnered as the two key elements to tracking affordability problems, but Kleiman says that wage growth is an important element that cannot be discounted.
While wage growth can't be discounted, creating a supply/demand balance is the true solution to the affordability issue, she says, rather than city regulations, like rent control. The conversation also moves to discuss affordability issues for developers and property owners, including rising construction costs.
Press play to hear more of Kleiman's view from the top in this exclusive video interview from RealShare Apartments.
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