Apt. Rents Still Outpacing Wages


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Maddox: “We are seeing signs of an outmigration of office users from Santa Monica to Playa Vista and El Segundo as users take advantage of attractive new supply or cheaper rents.”
LOS ANGELES—The widening gap between wages andapartment rents as rent growth continues to outpace wage growth is one of the more interesting trends to watch in 2016, Avison Young principal Jay Maddox tells GlobeSt.com. As he prepares to speak at the Southern California Development Forum’s “Annual Real Estate and Economic Forecast” event on January 12 in L.A., an event moderated by Larry Kosmont of the Kosmont Cos.and covering California real estate and business opportunities in 2016, we spoke exclusively with Maddox about Southern California real estate trends for this year…
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