Foreclosure Apartment Market Rebounds

Have you been reading the news?  The apartment sector is outperforming the economy. This should not surprise you. With a record number of folks losing their homes to foreclosure, there is increased demand on rental living. The Apartment market is getting better and better every day. 

“U.S. West Apartment Rents Increase as Foreclosures Boost Demand”

(Bloomberg) Apartment rents rose across the U.S. West and South for the third straight quarter as record foreclosures boosted demand for rental housing, RealFacts said. Apartment rents rose fastest in the Denver area, with rates increasing 2.4 percent from the second quarter to $883 a month, followed by the Austin, Texas, region, with a 2.3 gain to $837 a month, RealFacts said. In the Atlanta area, rents rose 2.2 percent to $834, and in the San Jose, California, region they increased 1.9 percent to $1,587.

“We’re getting to be much more of a culture that puts a premium on rental housing,” Sarah Bridge, owner of RealFacts, said in an interview. “People are disillusioned with the housing market. They don’t want to spend their money that way if they’re going to be foreclosed on.”

“Apartment Market, Rents Rebound”

(Wall Street Journal) The nation’s apartment market strengthened in the third quarter, with national vacancies seeing one of the sharpest declines on record, according to new data released Wednesday by Reis Inc. Robust demand allowed landlords to modestly increase rents for the third quarter in a row. That is a reversal from the freebies and discounts desperate owners coughed up during the downturn to retain and attract tenants.

“Recovery in the apartment rental sector appears to be firmly rooted,” said Victor Calanog, director of research for Reis, a New York-based research firm. “Despite lackluster economic growth and continuing uncertainty in the labor markets, households appear to be returning in droves to the rental market and signing leases.”

Do you seek bigger profits than single family foreclosures and a quicker plan to reach your financial independence goals? As America downsizes, have you looked for ways to capitalize on the increased demand of apartment living? Have you tried to tap into the foreclosure apartment investing business but did not know where to start?

Remember, I am always looking for Apartments or Commercial opportunities. I syndicate deals,  once I find something, I will let you know fast. Okay?

In the Moment, For the Moment,

Christian Yepez, Investor/Syndicator

www.investorsnetworking.com