“Right now, developers are creating the wheel every time they start a new housing project, which is not only inefficient, but also expensive,” says co-founder of Madelon Group.
Young people are moving back to the big cities, defying the predictions that prevailed in the initial months of the COVID-19 pandemic that urban areas would no longer be in demand. Recent data from RentCafe, a sister company of real estate data firm Yardi Matrix, shows that Gen Z, or Zoomer, renters—those under the age of 25—have largely been filling out apartment leasing applications in the traditional gateway cities, including New York, San Francisco, Philadelphia and Boston.
Belinda Schwartz, chair of the real estate department with Herrick Feinstein, comes on the podcast to discuss how HNWIs and family offices approach investing in the commercial real estate sector.
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