When looking at the economy, you can’t underestimate the importance of the housing sector. That was the overall message during a discussion of the apartment versus housing market at ULI’s Real Estate Finance and Investment 2013 conference here.
“There is nothing like economic growth to get you a job, get you out of the house, and get you into an apartment,” explained Richard Sinkuler, partner and global real estate markets leader of Ernst & Young.
Andrew Nelson, director of research and strategy at Deutsche Asset & Wealth Management, said that the economy is on an upward trajectory with fewer homes are underwater, consumer confidence rising, more construction jobs to build homes, and the manufacturing sector is making some recovery, he explained. “Tech and energy are very fundamental to our economy and are growing.”
Read more...Millennials Seek Apartments, Not Homes - Daily News Article - GlobeSt.com
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