5 Years Left in the Apartment Cycle

There's a lot of reasons to be bullish on the apartment market. Fundamentals in the multifamily space are expected to continue their golden trajectory for several more years, based on the latest numbers about US home-ownership from the US Census Bureau. US home-ownership is now at 63.4%, which is the lowest level of home ownership in this country since 1967. There is little to suggest it won’t stop falling: in Q1 it was at 63.7%. In 1965, when the government started tracking home ownership the level was 63% -- a percentage that seems like it is but a few quarters away again. At the same time rental vacancies are also, not surprisingly, dropping to new lows. The Census Bureau also reported that rental vacancy rates were 6.8% in Q2, a 30-year low. In mid-month Reis predicted at least another five years remained in the current apartment cycle and the latest Census Bureau's numbers support that. The original article can be read here.
5 Years Left in the Apartment Cycle

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