| The conventional wisdom may be wrong again: All the multifamily talk has been about demand, but the sector?s stunning fundamentals owe quite a bit to supply, too, as functionally obsolete stock comes off the market. That's according to Pinnacle Management prez Rick Graf, who's speaking at our first nationalBisnow Multifamily Annual Conference in DC on Monday and Tuesday. Owners of older properties are hitting ceilings on how much they can raise rents, and fewer units creates a vacuum for apartment investors and developers to fill in the face of surging demand. His take: despite concerns about overbuilding in certain areas, national multifamily is in the early stages of a five- to eight-year healthy run. Sign up now to hear more from Rick and over 30 other speakers at DC's JW Marriott Nov. 19 and 20. |
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