Essex Property: While Everyone Is Bearish On California, I'm Buying (NYSE:ESS)

Core Insights - Essex Property Trust (NYSE: ESS) is a specialized apartment REIT with a strong focus on California, benefiting from a recovery following pandemic-related challenges [1] - The demand for apartment real estate is expected to rise as the affordability gap continues to widen [1] Company Overview - Essex Property Trust is characterized by its unique concentration in the California market, which positions it favorably in the current real estate landscape [1] - The company is experiencing a sustained recovery, indicating resilience and potential for growth in the apartment sector [1] Market Trends - The widening affordability gap is anticipated to drive increased demand for apartment rentals, suggesting a positive outlook for the sector [1]