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Curtis Palmer Curtis Palmer is an executive managing director at Newmark Grubb Knight Frank.

LOS ANGELES—The multifamily market has hit new records in both 2015 and 2016, and Curtis Palmer, executive managing director at Newmark Grubb Knight Frank, doesn’t expect that to change in 2017. According to Palmer, we are headed for a very strong year with continued rent growth—even if that growth starts to slow—and a strong investor appetite. Rents in Los Angeles have grown so significantly, it is hard to imagine that the market can handle even more rent growth. However, Palmer says that residents can afford upwards of $4,000 to $5,000 per month for rent, but don’t have enough equity to purchase a home or condo, which is helping to accommodate higher rental rates. Palmer sat down with us for an exclusive interview to discuss the rent growth in Los Angeles and his expectation for 2017.

GlobeSt.com: What is driving the significant rent growth in Los Angeles?

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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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