Over 120 AAM Members and guests attended the 4th Annual AAM Economic Forecast & Market Outlook on October 20. The Economic Forecast Keynote was provided by Donald R. Grimes, Senior Research Specialist at the University of Michigan’s Institute for Research on Labor, Employment, and the Economy. The apartment market update was provided by Kevin Dillon of Hendricks & Partners. Highlights of the presentations included:
• Modest job growth both locally and statewide driven by the auto industry, professional/business services, and health care
• Positive long-run outlook for apartment rentals
• Increasing sales transactions locally for multifamily rental property as well as increasing average price per unit
• Modest rent growth
For copies of the presentations go to www.apartments.org.
John Uznis (left) of John F. Uznis Builders, BIA/AAM CEO Michael Stoskopf, Keynote Speaker Donald Grimes of the University of Michigan and AAM President Tom Shumaker of John F. Uznis Builders.
AAM Immediate Past President Jeffrey Kaftan (left) of Kaftan Enterprises, AAM Vice President Allen Amber of Amber Properties and David Wilkins of St. James Capital.
Event sponsor Patty Meadows-Smith of First American Title Insurance and AAM President Tom Shumaker of John F. Uznis Builders.
AAM Apartment Building Managers Self-Insured Fund Agent Jennifer Moffitt of Brown & Brown distributing a dividend check to Richard Olson of First Beacon Management.
Apartment Market Update Speaker Kevin Dillon (left) of Hendricks and Partners with AAM President Tom Shumaker of John F. Uznis Builders.