Apartment Investors' New Task: Preserve Capital As Jobs Vanish
Investors Business Daily reports: Until recently, multifamily housing investments had been doing better than retail property, hotels and offices. And a lot better than houses and condos.
But now the apartment market has taken a turn for the worse as unemployment has continued to spike and vacancy rates start to climb. As people lose jobs, they are less able to pay rent. They move in with parents or friends, or get cheaper places.
"The bulk of transactions now are your smaller, local deals in the $5 million to $20 million range," said Dan Fasulo, managing partner with Real Capital Analytics.
View the full article on Investors Business Daily: Apartment Investors' New Task: Preserve Capital As Jobs Vanish
Posted by: Nina Turner