USC Lusk Center for Real Estate

Your living space feels tight. Is it overcrowded? Here’s a scenario: A couple lives in a studio apartment. That’s overcrowded! Why? It’s all about the doors. 🚪 The studio couple doesn’t have an extra door separating their private living spaces. But if you added a kitchen with a door, then that living space is no longer overcrowded by this definition. To keep it simple, just assign one person to each door (minus the bathroom) and if you’re at 1:1 ratio, then the space does not qualify as overcrowded. If that still seems a little confusing, stay focused on the doors and let Systems and Data Manager Elly Schoen explain. 🤔 Try and stump us with an overcrowding scenario! Drop a number of people and corresponding rooms in the comments and we will try to tell you if it’s overcrowded. 👇 #housing #data #losangeles

This week we were delighted to host Mariaflavia Harari from The Wharton School of the University of Pennsylvania in our research seminar series! Professor Harari presented the newest version of her paper “Residential Patterns and Local Public Goods in Urban Brazil”. Many thanks to Professor Harari for sharing her work with us!

See you November 21 for this year’s NAIOP SoCal LA Real Estate Challenge! 👇

This week, we are grateful to Paras Shah (MRED 2018) of GSC Investments for our Wednesday Speaker Series presentation! Thank you Paras for taking the time to share your real estate journey and perspective on manufactured housing with this year’s class. Current MREDs: If you were in the room, drop a takeaway in the comments for those unable to attend. 👇

We appreciate Rob Antrobius (SVP at Prologis), Tom Holland (EVP at Kidder Mathews), and Max Williams (Acquisitions Analyst at Greenlaw Partners) being our guest judges/speakers last night. Rob, Tom, and Max judged the third case study presentations of the semester for the BRED (undergrad) Real Estate Finance Class. The students evaluated two industrial investments. A covered-land-play in Torrance, CA and a stabilized Amazon warehouse in Redlands, CA. They had to come up with their own rent growth and exit cap assumptions and they had to defend their reasoning to the "investment committee." It was great having Rob and Tom back in the classroom. They've been doing this for a few years and do an incredible job! It was also really fun having Max back in the classroom as well and to see how much he's grown and developed! Great comments and feedback from all three! Having industry professionals provide "real world" feedback to the cases is such a benefit for our students! University of Southern California USC Sol Price School of Public Policy USC Lusk Center for Real Estate USC Dollinger Master of Real Estate Development #usc #realestate #realestatefinance #realestatedevelopment #mentoring

No matter how you look at it, SoCal is falling behind Texas housing production. After looking at the number of permitted units per 10,000 people in Texas vs. Southern California, the 2023 Casden Report took a different approach to the numbers. Instead of a per capita view, what if we look at the raw numbers? Perhaps viewing the total production of single-family and multifamily units would show SoCal indeed produces a lot, but with such a high population, it struggles to keep up. Unfortunately, Chase McNeill pulled an additional graph from the report showing the hypothesis didn’t prove as true as we might hope. What’s the forecast for the next two years of Southern California multifamily production? Find out on November 7th at the annual Casden Multifamily Forecast Conference. Link in the comments to learn more. 👇 #data #housing #multifamily #socalrealestate #realestate

Our multifamily forecast reveals 24-month trends, but what about some key issues behind the numbers? Some relevant questions: - As hybrid and remote work settle, how has multifamily adjusted? - How can communities increase housing without displacing residents? - What can economic development and housing do together to yield more? On November 7, industry experts provide more details on a few drivers impacting Southern California housing. Moderator - Richard Green • Director, USC Lusk Center for Real Estate Panel - Matt Horton • Vice President, Research and Policy, Los Angeles County Economic Development Corporation (LAEDC) Robin Hughes • President & Chief Executive Officer, Housing Partnership Network Scott Laurie • President & Chief Executive Officer, Olson Homes ➡️ Join us at the InterContinental Los Angeles Downtown for the Casden Multifamily Conference on November 7. Registrants also receive a digital download of the Casden Multifamily Forecast Report, a comprehensive summary of market conditions in each of SoCal’s dynamic regions along with forecasted rents, vacancies, net delivered units, and more at the submarket level. Thank you to this year’s generous sponsors for making this event possible: Related California Jones and Jones Communities Heffernan Insurance Brokers Hutton Companies Learn more at the link in the comments. ⬇️ #housing #multifamily #SouthernCalifornia

From Christian Redfearn: “It is abundantly clear…[multifamily] construction has been clustered: in and around downtown Los Angeles, in and around the VA in West Los Angeles, as well as, in North Hollywood and Van Nuys. By contrast, many parts of Los Angeles that have received little or no MF development in 28 years.” 👇

Our multifamily forecast looks at 2025-2026 with extensive data modeling, but what do industry practitioners see coming in the next 24 months? The Response Panel acts as a vital temperature check of how the numbers stack up against what active industry professionals observe in the market today. Response Panel: Moderator: Mary Lynne Boorn • Associate Professor (Teaching) USC Sol Price School of Public Policy Gino A. Canori • President, Related California Mitch Menzer • Partner, Cox, Castle & Nicholson LLP Moussa Diop• Associate Professor, USC Sol Price School of Public Policy ➡️ Join us at the InterContinental Los Angeles for the Casden Multifamily Conference on November 7. Registrants also receive a digital download of the Casden Multifamily Forecast Report, a comprehensive summary of market conditions in each of SoCal’s dynamic regions along with forecasted rents, vacancies, net delivered units, and more at the submarket level. Thank you to our generous sponsors for making this event possible: Related California Jones and Jones Communities Heffernan Insurance Brokers Hutton Companies #multifamily #realestate #socalrealestate

Thank you to those who attended last week's Ross Alumni and Friends reception! It was an unforgettable night with the reunion of old friendships, the beginning of new ones, and thoughtful reflections on the legacy and state of the real estate industry from our keynote speaker Alfred Fraijo Jr. (Somos Group). We are so grateful to our sponsors without whom this event would not be possible: American Realty Advisors Hunt Capital Partners Los Angeles LDC