According to a recent report from the National Association of Real Estate Investment Trusts (NAREIT), the U.S. REIT market as a whole underperformed in the third quarter of 2012, but outpaced the broader market in the first nine months of the year.
“The fundamentals behind the multifamily story are very much in place. We went from a market where in the housing market crisis, the rental market received all the new demand that was coming in,” Calvin Schnure, vice president of research and industry information, NAREIT, tells MHN. “What we’re seeing now is there’s still a huge pent-up demand, there are many people who remain living with roommates or doubled up in one way or another.”
Multifamily construction is tied to the economy, which Schnure says will lead to a strong demand.
Read more...NAREIT Explores 2012 Multifamily REITs | Multi-Housing News Online
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