By Henry Cisneros, executive chairman, CityView
Even with thousands of multifamily units currently in the pipeline, demand continues to outpace supply by a vast margin.
The CoStar Group, a provider of commercial real estate research and information services, forecasts that more than 203,000 new units combined will be delivered to the market over the course of 2012 and 2013.
Yet, even this tremendous uptick in development will not be enough to meet the substantial demand for product, which is being driven by a burgeoning pool of renters nationwide.
