2008-11-12 — blogspot.com
"“Nine straight months of job losses have begun to cut into the demand for apartment residences,†said Mark Obrinsky, NMHC’s Vice President of Research and Chief Economist. “While favorable demographics and a lower homeownership rate will benefit the apartment industry over time, owners and managers will first have to work their way through the current economic downturn before the benefits of that increased demand are likely to show up."
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments:
bdc63 at 20:14 2008-11-12 said:
I think there is another element (or 2) to this story that they missed. First off, in my area any apartment building that was in a nice area was turned into condos during the boom. Many of those are probably now being rented by the owners, taking away from the "apartments" rentals. Additionally, since practically anyone could get a mortgage over the past few years, most of the apartment dewelers (again, in my area) were immigrants/illegals ... Russians and Mexican's mostly. Now that the job are going away, they are going home. Permalinkadd a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.