There are a couple more markets making the news with some solid headlines. Both Portland and Seattle experts are optimistic about multifamily and mixed-use fundamentals going forward.Vacancies are down, rents are on the rise and investors/lenders feel strongly about long term prospects for the market.
The return of the renters: Upended housing market spurs Portland's apartment market
Jitters send the developers running to rentals
Once again, the national trends we are hearing all seem to be well-supported on a regional basis.
2 comments:
Is it healthy to see such a rise in rent$ from apartments when both gas, power and food are going up so drasticly?
Thanks for checking in Ray. Housing affordability has been a huge issue in this country and now it has been magnified by the issues you mention. It is still cheaper to rent in most markets however, in spite of the fact that housing policy has been overly-weighted towards homeownership. So to answer your question (while realizing that it was somewhat rhetorical) it is not healthy to put the cost of housing further out of reach for many families but it is healthy to see multifamily providers catch up in their ability to provide quality housing to meet demand. A more balanced policy will benefit both renters and apartment operators alike.
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