Recently, at the Pacific Coast Builders Conference (PCBC), multifamily finance and operation fundamentals were discussed in depth. Chris Wood reported details in the Multifamily Executive on 6-16-09.

In the opening session of the 2009 MultifamilyTrends Conference held in conjunction with the PCBC in San Francisco, Hessam Nadji, Managing Director of research services for Encino, CA-based Marcus and Millichap, illustrated an image from the Friday the 13th films. In other words, it’s scary.

“Capital markets are definitely still scary and characterized best by illiquidity,” agreed Matthew Anderson who is a partner with Oakland, CA-based Foresight Analytics. “We definitely expect trouble ahead,” Anderson said.

On the other hand, the keynote panel painted a brighter picture. With housing affordability reaching new lows and expecting a large number of move-outs, renting is expected to be on the rise. In addition, the Gen Y crowd will be entering the rental market.

Claude Gruen, San Francisco-based Gruen, Gruen + Associates’ principal economist, said in his keynote panel address, “What we can do is program our industry and our business to recognize that we have got to look forward. When we come out of this recession, we are going to be facing an entirely new economy. All industries are going to have to reinvent themselves, and our focus is going to have to be on obtaining consumer satisfaction rather than obtaining loans and entitlements.”

To read the entire article, please go to http://www.multifamilyexecutive.com/economic-conditions/not-out-of-the-woods-multifamily-ponders-state-of-the-industry-at-pcbc.aspx

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