The real estate business just keeps getting bigger, as traditional and newly minted fortunes flow into the sector — a great deal of them from overseas. The reason: Real estate diversifies investment portfolios, can pay handsomely and offers a bulwark against inflation, to name a few.
That kind of enthusiasm for the asset class was in full relief at the 2016 Real Estate Symposium in Scottsdale, Ariz. The gathering, produced by Mick Law, featured dozens of real estate investors and fund managers offering some of their most trenchant observations.
One of the most evident takeaways was that investors are still bullish on multifamily, even as some noted that the sector appears near the top of its expansion cycle. Rents rose by 5 percent in 2015, and are up just 1.4 percent for 2016. Consider that the average rental rate is $1,252, enough to pay the mortgage for a sizable $200,000 house. Still, many people are choosing to rent, while others who are interested in buying are