The Residential Sector Spotlight Session at this year’s NAREIT convention subtitle could have been “busting assumptions and myths.” During the hour-long session on Nov. 16, heads of multifamily REITs provided an entertaining and sometimes humorous discussion about trends, predictions and why the multifamily sector was doing so well despite lousy job growth.
The general consensus of the panel, moderated by Richard Anderson, managing director, IBG Research, BMO Capital Markets, was that, job growth or no job growth, people need to live somewhere. And given the skepticism of the American Dream of home ownership, apartments seem to be it.
However, cautioned Equity Residential’s president and CEO David Neithercut, don’t make the mistake of assuming that people are moving out of foreclosed homes into apartments. Those foreclosed folks are moving into rental housing, rather than multihousing.
Read more...GlobeSt.com - NAREIT: Multifamily Experts Explain Trends, Bust Assumptions - Daily News Article
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.