Richard Green Richard Green

The extreme multifamily rent growth in Los Angeles is beginning to slow, and while rent growth is still substantial, we couldn’t help but wonder how the deceleration of growth is impacting vacancy rates. It stands to reason—especially considering that L.A. has been pegged as a city with a severe housing shortage—that vacancy rates would decline in response. We asked Richard Green, director of the USC Luck Center, how the slowed rental rate growth is expected to impact vacancy rates, and he pondered the idea that we may be hitting a supply equilibrium.

“It is like we are getting an equilibrium, which is to say that neither vacancy rates nor rents will move that much,” Green tells “It confuses me a little bit because we are still not building all that much, especially relative to where we expect demand to be. It could be that there is not as much demand as we thought there was going to be.”

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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 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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