Zenith Economics, LLC is a California-based independent economic research and consulting practice providing industry-leading expertise in Economic and Social Impact Analysis, Landuse Policy, and Economic Insights to public and private-sector clients.
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See coverage of our latest report, the Residential Permitting in the City of Los Angeles Q2 2024 Update, at Urbanize LA:
Approximately 5,200 residential units have been approved citywide since the start of this year Hilgard Analytics LLC | Zenith Economics, LLC
As the U.S. Federal Reserve fights persistent rent price inflation, an unprecedented trend in national multifamily construction timelines suggests rent price growth will remain elevated. Beginning in the early 2000s, a backlog of housing units became stuck in construction, outpacing starts and completions. This 5+ unit multifamily backlog reached historic levels in 2023. The backlog is largely due to slower construction timelines - it now takes almost 2X as long to build an apartment as it did 30 years ago. To read more about multifamily construction slowdowns, its causes, and the implications for broader macroeconomic trends, click the link to read the full story on our website: https://lnkd.in/gapPaFfE