Houston is well-positioned to ride out any economic difficulty ahead, with its strong industrial market, high employment rate, robust population growth and continuous development. But it’s not all rosy ahead, according to experts at Transwestern’s Trendlines event last week — and at least one commercial real estate asset class is poised for a downturn in the near term, according to some.
Greater Houston Partnership Senior Vice President of Research Patrick Jankowski said he is worried about the Class-A multifamily market as rents continue to soften and units continue to be built.“The best years for multifamily are over,” Jankowski said. “One of my concerns is we’re seeing some slack-off in Class-A … we have roughly 21,000 units… Read the full story here. | | |