Shop Talk: A Conversation with Mark Obrinsky
Following its latest survey of institutional investors, the National Multi Housing Council (NMHC) announced the apartment market, for the time being at least, continues to show signs of steady fundamentals despite the currently weak economy and tightening financial markets. Rachel Speirs, assistant editor of The Institutional Real Estate Letter, spoke with Mark Obrinsky, NMHC’s chief economist and one of the report’s co-authors, about the report’s findings and the current state of the multifamily housing sector.
In May, NMHC released the results of its first quarter survey concluding that the apartment market was in a fairly stable condition despite the difficulty investors were having finding financing. Can you update us on what’s going on in the apartment market right now?
We don’t have our next survey in the field just yet. We will in a couple of weeks. But from talking to folks in the field, I believe the market, in general, co