Multifamily experts were optimistic about prospects for the sector at the midyear forecast at the National Association of Real Estate Editors conference in Atlanta. Most locations won’t overbuild, single-family rentals are not overtaking the market and the Millennial generation is likely to usher in a longer-term interest in renting by choice, they said.
Speakers Mark Obrinsky, vice president of research & chief economist for the National Multi Housing Council, and Greg Willett, vice president of research and analysis for MPF Research, agreed that the forthcoming need for multi-family rental units will 300,000 to 4000,000 per year.
Read more...Special Report: Apartment Rentals to Remain Healthy | Multi-Housing News Online
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