The Recovery in Residential Construction

 

Get the Allen Matkins/UCLA Anderson Forecast Special Edition

In this Special Edition Allen Matkins/UCLA Anderson Forecast Economist, David Shulman discusses the strength of the housing recovery and makes the case that credit conditions combined with the high student loan debt of the new household formers, has created the conditions for a boom in multi-family housing.

The current Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey, published in June, examined developer sentiment in three markets, Los Angeles, San Francisco, and Silicon Valley. The panel was very optimistic about the prospects for returns on multi-family housing in the coming three years. Indeed, the market outlook was considered sufficiently bright that 55% of our panel or their associates are beginning new multifamily projects in the coming twelve months. So for California, the housing recovery not only has legs, it has legs in the multifamily space and one can look forward to continued growth in multi-family home construction.

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