The Los Angeles multifamily market is at a fork in the road. On the horizon looms a decision that may impact investors, property owners, and renters. According to Richard Green, Director of the Lusk Center for Real Estate at USC, rent growth may be slowing in LA in response to new housing development in the area, yet Los Angeles remains one of the most expensive places for renters in the entire country. With affordable housing as their premise, there is a growing group of supporters that would like to repeal a law which, in conjunction with new development guidelines, has allowed multifamily development to flourish.
Recently I joined Greysteel, a leading transactional commercial property adviser for private, middle-market and institutional investors. My focus is to expand the company further into the housing market throughout the South Bay region of Los Angeles County. The South Bay stretches from Inglewood to the north all the way to Rancho Palos Verdes, near Long Beach, to the south.