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Demand Still Trumps Multifamily Supply


Recently Inman News tapped EVP Rick Sharga as one of the 100 Most Influential Real Estate Leaders for the second consecutive year. So we tapped him for knowledge about multifamily. He tells us supply’s going up in the OC apartment market--but it looks like demand is going to keep outrunning it. Although it’s a buyer’s market, he says homeownership rates will probably continue to decline in 2014, which suggests robust demand for rental units. That means "low vacancy rates and high rents even as new inventory hits the market.” (Rick is snapped with his daughter Jacquelyn during a vacation to Kauai.)