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Market News that Many May Find Interesting | International Residential Real Estate Investors Association
Monday January 22nd 2018

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Market News that Many May Find Interesting

I received this from Alliant Capital today and thought everyone might have an interest.

Demand Growing In US for Rental Housing

Many Americans are still priced out of the traditional housing market, despite month-over-month declines in home prices and some of the lowest mortgage rates on record. The income needed to pay a mortgage on a median-priced home fell in more than 90 percent of the markets examined by the Center for Housing Policy, the research arm of the National Housing Conference, an affordable housing policy advocate. Despite the decline, however, many Americans still do not make enough to buy a home. The study, which ranked purchase and rental costs for properties in more than 200 U.S. metropolitan areas, found that consumers are renting more and are paying higher rental costs than in previous years. Bob DeWitt, CEO of GID Investment Advisers, recently testified before federal lawmakers that the apartment industry is in need of government backing. He cautioned lawmakers about the risks of creating a capital shortage for the second-priority rental sector as they strategize on ways to mitigate taxpayer exposure. “This is important,” he stated, “because the nation is increasingly relying on apartments as fundamental changes in our society are changing the types of housing we need to build. Housing expert Professor Arthur Nelson of the University of Utah projects that half of all housing built over the next 10 years will need to be rental housing to meet the dramatically changing landscape of demand.”

Apartment Vacancy Rates in U.S. to Decline in 2010

CB Richard Ellis Group Inc. reports that apartment vacancies in the U.S., which hit an all-time high of 7.4 percent in 2009, will decline throughout 2010 as job losses stabilize and fewer new rental homes are added to the market. The nation’s vacancy rate will fall to 6.8 percent in 2010, CBRE forecasts. In some areas, apartments could fill up quickly as employers begin hiring again and Americans in their 20s and early 30s give up sharing housing with roommates and parents. To this end, AvalonBay Communities Inc. CEO Bryce Blair believes developers will have to ramp up rapidly to meet demand after cutting apartment starts by 58 percent in 2009.

Apartment REITs to Rebound First

Grubb & Ellis AGA US Realty Fund expects real estate investment trusts that invests in apartments, health care and self-storage sites to gain.  It sees commercial real estate in the early stages of a three to five year recovery.

Texas Metro Areas among Best for Growth, study says

Texas metro areas have already been singled out as among the best places to ride out the Great Recession.  Texas remains one of L5 Investments’ focus markets.  “There is no other state in the country that has had a better track record for 20 years of quality economic growth than Texas,” says William Fruth, president of Policom, a Palm City, Fla., company that specializes in analyzing local and state economies.

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