The group known as "echo boomers" are heading off to college and entering the workforce. With many campuses offering outdated housing stock, apartments near colleges and universities are expected to do well in the years ahead. in a recent speech at the PSU Center For Real Estate, Christopher Lee, President & CEO of CEL & Associates, Inc. cited statistics that 74% of 15-24 year olds rent, and 51% of 25-34 year olds rent. At recorded birth rates the number of emerging renters will increase 17.3 million between 2010 and 2050. Additionally, because universities supply only 35% of student housing needs, a substantial increase in housing near colleges and universities will be necessary to house the growing number of students nationwide.
Read the Multi-Family Housing Article
See Mr. Lee's PowerPoint Presentation