in News > Commercial Mortgage
print the content item


Developer sentiment continues to show signs of optimism and solid indications of impending new commercial development, particularly in the multifamily housing sector, according to the current semi-annual release of the Allen Matkins/UCLA Anderson California Commercial Real Estate Survey.

"Since the end of the recession, we have seen developer optimism spread to all markets and types of commercial space along with an increased willingness to go forward with new development," says UCLA Anderson Forecast Senior Economist Jerry Nickelsburg.

Seventy percent of the survey participants in San Francisco, Silicon Valley and Los Angeles said that they plan to begin new multifamily housing developments in the next 12 months. The survey's authors determine that this rise in multifamily residential construction is being driven by high occupancy rates and rising rents, particularly in the Bay Area, as household formation begins to rebound in California.

"This growth in multifamily housing is encouraging," says John Tipton, partner at Allen Matkins. "It is in markets where there have been substantial job gains - especially for younger workers who prefer to rent apartments in urban areas - and where property values are high."

Furthermore, approximately 25% of the survey participants are planning to start new office developments in the coming 12 months.




Latest Top Stories

The 'Widespread Contagion' Of Foreclosure Is Now Contained

RealtyTrac says in its midyear report that foreclosure activity has dwindled back down to historic levels and that it is on track to continue the pace.


New Housing Finance Reform Bill Introduced In Congress

Three congressmen are taking a new crack at balancing public and private involvement in housing finance.


Julian Castro Confirmed As HUD Secretary

The 39-year-old, third-term mayor of San Antonio will replace current HUD Secretary Shaun Donovan, who will next lead the White House Office of Management and Budget.


'Middle Ground' GSE Reform Proposal Would Keep Fannie, Freddie Alive

Proposal provides an explicit government guarantee "but taxpayer money will be protected through adequate private-sector capital and accurate pricing of government reinsurance."


Could Supreme Court Decision Lead To Revocation Of CFPB Rules?

"The Supreme Court decision on the Cordray recess appointment casts doubt that actions taken by the CFPB, via its first and only director, are valid..." said Michelle Garcia Gilbert, managing partner with Tampa, Fla.-based Gilbert Garcia Group.

LenderLive_id1241
Hse SandyHook
Industry Resource
Play for Pink
Safeguard_id1295
BSI_id
ALFN_id1267
CMBA_id1228