CNBC reports that the multifamily real estate analysis firm REIS has new data showing that "Apartment vacancies fell by just ten basis points in the third quarter of 2012,
from 4.7 percent to 4.6 percent. . . . While that is still an
improvement, it is the slowest rate since the recovery began in 2010."
According to CNBC, many analysts still believe
apartment demand will remain robust in the near term, relative to where it has
been historically, as so many potential home buyers are shut out of the mortgage
market due to damaged credit. They also point to a shift in the homeownership
mentality of younger Americans, who have seen what the housing crash did to
their parents and who are gravitating more and more to urban centers.
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