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Long Beach Apartment Boom: Experts Agree All Indicators Remain Positive

Release Date: 2018-07-30

By: Brandon Richardson

Demand for housing is not being met statewide, and cities are scrambling to catch up. With thousands of units under construction or planned, and ever-increasing rents, Long Beach is no different. According to experts, the recent fear of rent control in Long Beach brought a general sense of caution to the multi-family residential market. However, that fear has been put at ease for now, with a local rent control initiative failing to receive enough signatures to be put on the November ballot.

“We saw a lot of highly active buyers in the Long Beach market holding off on making any purchases in the city,” Steve “Bogie” Bogoyevac, vice president at Marcus & Millichap and founder of the company’s Bogie Investment Group, said. “So we saw probably the most amount of inventory on the market in Long Beach that we’ve seen in years.”

Read more on The Long Beach Business Journal