Times seem good for the business of owning and managing apartment properties. Vacancy rates are low and rent growth relatively high. What could go wrong?
For one, renters could start shopping for bargains on the for-sale housing market—especially especially as the cost of renting continues to rise while home prices remain flat. For now, doubts about housing markets and the broader economy are keeping many generation X and older generation Y renters from shopping for homes. But that uncertainty won’t last forever.
“Uncertainty is keeping people from making home-buying decisions,” says Brady Titcomb, Research Manager for the multi-family capital market group for Jones Lang LaSalle.
Read more...Will a Rise in Homeownership Rates Hurt the Multifamily Sector? via NREIonline.com
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