“Multifamily properties have outperformed other commercial property types in the past two years, benefiting directly from the continuing travails of the for-sale housing market. … Multifamily properties will continue to benefit from a convergence of positive factors: first, as the for-sale housing market continues to struggle, fewer households will make the transition from renting to owning a home. Despite record-low mortgage rates, credit still remains tight except for those with the best credit histories and capacity for large down payments. Although the rate of job creation remains moribund, the economy has created over 2 million jobs since 2010, and on the margin individuals are moving out of doubled-up households to rent their own places.” Full article…
