US apartment rents are expected to climb next year as the economy recovers from recession, a rise that may fuel inflation, a real-estate industry group said Monday.Multifamily real estate will star in an overall modest improvement in commercial property markets in 2011, the National Association of Realtors said in an outlook report.NAR said ailing commercial real-estate markets -- office, industrial, retail and rental housing -- were flattening out after a steep plunge amid the worst recession in decades.
Back in September, we explained that when it comes to "boom" in US real estate, there are three key driving forces: i) the Fed's monetization of mortgage backed securities whose impact however is at best to stabilize the demand floor (and judging by the recent collapse in refi activity even that is questionable), ii) an implicit subsidy as banks keep millions of units on their books (to get a sense of how much check out at the chart in "
A new survey out Wednesday points to a massive surge in apartment construction, as inventor demand from pension funds competes with traditional condominiums.
Toronto-based Urbanation Inc. says the current development pipeline for units, either under construction or proposed, is up 75 per cent compared to the number of purpose-built units constructed over the past 10 years.
By Ilaina Jonas NEW YORK (Reuters) - Finding an apartment to rent got even harder in the third quarter, as the U.S. apartment vacancy rate fell to its lowest level in more than a decade, according to an industry report released on Tuesday. The national apartment vacancy rate fell 0.1 percentage point to 4.2 percent in the third quarter from the second quarter, according to a preliminary report by real estate research firm Reis Inc. It was the lowest vacancy rate since the third quarter of 2001 when it was 3.9 percent. Some 47 out of 79 markets that Reis tracks posted vacancy decreases. ...