The GOOD NEWS is that construction of Apartment Buildings is rising quickly…needed to house all of the folks who lost their homes and the new families that have been and will be created over the next few years.
Apartment building construction has been nearly non-existent for a number of years so it’s well overdue to start. Many of the properties have gotten old and are not being maintained due to lack of supply…competition will solve that problem.
Housing construction is likely to remain VERY LOW for the next few years as the Resale Market works down the excess inventory left over from all of the past, current and coming foreclosures and short sales.
At least in a couple of years the folks who need to rent will have someplace to live.
Those who Buy Apartment Building Investment Properties in the Very Near Future will be the RICH INVESTORS of the next up cycle…even if it is shallow…because the TRAUMATIZED folks who lost their homes will become a permanant renter class.
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THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205
CYPRESS CA 90630