EFTA Document EFTA01388628

mid-30s, More troubling is the large influx of new supply that has begun to come on line in virtually every market in the country. Accordingly, we assume an underweight position to the sector. 1.2 Market Allocations From a strategic perspective, we continue to favor large, coastal. 'gateway" markets (e.g.. Boston), which have produced stronger rent and price appreciation over time while providing superior liquidity. Conversely, we are wary of smaller markets with poor demographic trends (e.