Julian Vaughn

Julian Vaughn asked about the reasons for the downward revision in Camden Property Trust's market rent growth expectations to 2% for the year, from previous higher forecasts, and inquired about the assumed job growth underlying this 2% expectation and potential downside scenarios.

Answer

President and CFO Alex Jessett attributed the revision to ongoing market uncertainty, slower-than-expected absorption of excess supply, and weaker job growth, including weak hiring of May graduates. Executive Vice Chairman Keith Oden added that 2025 job growth was significantly revised down, and the 2026 forecast of 257,000 jobs across Camden's markets would be a strong year, especially as the development pipeline winds down.