The housing recovery is a concern to the multifamily sector, but it is not the chief one, says Dave Bragg, managing director with Green Street Advisors. The top two threats, according to Bragg, are job growth and multifamily supply. "Job growth and apartment rent growth have a very strong correlation over time," he said. "Second -- and what is generating a lot of attention today -- is multifamily supply, especially in what were formerly considered high-barrier markets. That is a great risk that we’ll be able to better quantify over the course of 2013."
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