The demographics underlying both the single-family and multifamily housing markets are very positive, says Sam Zell, Equity Group Investments chairman. In the single-family market, consumers have abandoned the expectation that their houses will continually appreciate in value, which is a healthy trend, he says. Multifamily, as a result, will continue to be an attractive housing option and an attractive investment, particularly in markets with high barriers to entry for new development, Zell says.

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