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Development and Construction Trends in California's Multifamily Housing Market

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"The panelists agreed that opportunities exist in affordable and workforce housing, with one member noting that they cannot build their way out of the demand for these properties. Employees need housing that fits their budgets and gives them access to transportation so they can get to work. However, multifamily developers face increasing competition from industrial properties, especially in urban areas where industrial land costs exceed those of residential multifamily. This is one reason they’re shifting attention to interior markets with robust transportation systems and strong fundamentals to support these properties."

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