The short answer? No way.
Here’s why…
Across the country vacancy rates are steadily decreasing, rental rates are on the rise, and new construction is breaking ground at an impressive rate.
Looking at the Marcus & Millichap’s 2014 National Apartment Overview, we see that national vacancy rates for multifamily sector are expected to reach 5.1% in 2014 mostly because of the 215,000 new multifamily units under construction this year. In addition, the reports project that rental rates will increase by another 2.6% over the 4.2% we saw in 2013.
Read more...Are Multifamily's Best Days In the Past? - Multifamily Blogs
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