As home prices and mortgage rates rise, it will become more difficult for potential homebuyers to purchase a home in light of today's tighter lending standards.
With homeownership no longer an option for many, demand for rental properties is on course to keep outpacing housing supply, investors in the space say. In fact, according to an infographic put together by Alan Feldman, CEO of Resource Real Estate, a minimum of 240,000 new apartments each year is needed to meet expected demand levels for the next seven years.
To date, only about 130,000 new apartments are expected to hit the market in 2013. "It’s very simple, the only people or companies that satisfy that demand are profit-seeking developers," said Feldman.
Read more...Multifamily demand outpaces supply | 2013-08-27 | HousingWire
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