There are good reasons multi-family housing is still the hottest real estate sectors in the country, according to Jonathan Woloshin, co-head of sector research for UBS Financial Services.
But he also is making a rare call for caution on the part of investors who think it’s impossible to go wrong with multifamily.
“What’s really going to trip us up? I think it’s going to be over-paying, and we’re not going to know until it’s too late,” he told the members of New York Commercial Real Estate Women (NYCREW) at a meeting last week.
In a review of markets across the country, Woloshin pointed to diminishing cap rates and warned that, slowly but surely, the housing market is on its way back.
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