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ORANGE COUNTRY: Apartment Market Seeing Permanent Change

ORANGE COUNTRY: Apartment Market Seeing Permanent Change

Zillow chief economist Stan Humphries tells us that conditions bode well for apartment demand in SoCal, thanks to long-term structural changes in the way people live. For-sale housing is also bouncing back, but despite that "demand will continue to fall heavily on the rental side, because a lot of people still have impaired credit, and the Gen Ys are still less than sanguine about buying a place to live," Stan says. (No need to buy when you spend most of your time living in World of Warcraft.) People are also moving out of the doubled-up arrangements with roommates and family members that the recession forced on them. They usually rent their own place before buying.

Related Topics: Gen Ys, Stan Humphries
WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé
Combined Properties
Greg Trimmer
JBG SMITH
Alex Nyhan
First Washington Realty