“As prices just get too high above where they should be, people are going to look at the alternative,” said Ken Johnson, a real estate economist and professor at FAU in Boca Raton. “You’re going to see more people look toward multifamily.” - CoStar
Spent this morning reading through some market reports and wanted to share one I particularly liked. This is brought to you from CoStar, specifically from an article that they put together entitled, "Higher Home Prices Nationwide Push Toward Apartments" you can read the full article HERE.
A couple things they shared that are good news for fourplex investors and the like:
The U.S. housing index recently did studies and discovered that in 19 of the 23 metropolitan areas surveyed--owning is much less appealing than renting. CoStar also cited an index created by Florida International and Florida Atlantic Universities and found that Houston stood out as being in the bottom three of least desirable places to own a home.
Since FIG has multifamily projects in Houston, we were happy to see this strong drive toward a continually increasing rental market.