Year over year manufacturing jobs grew 238k. Manufacturing = 20% of GDP but gets no press, where as single family housing < 2% gets all the coverage.
There is still a historic % of 18-34 Y/Os still living ‘with the parents’ but they are also getting a larger proportion of the new jobs. (See chart) Good for apartment building investors as these people typically become renters when they move out.
A props in primary (coastal) markets seeing compressed cap rates; most on the call (including me) thought they were a little frothy.
Read more...Marcus & Millichap Q1 apartment building investment call. | Ashworth Partners
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