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|Posted on 27 March, 2013 at 8:39|
I invest in Commercial Multifamily Apartments because I believe that is where the long term wealth is. In today's market, more people are renting due to fear of instability of the market as a whole, both nationally and on a world scale. Even though we are seeing improvement in the housing markets all over, I believe we are a long way from seeing a major recovery of any sort, and I truly believe we will never get back to the way we were in the early 2000's. I see renting as a strong market for quite some time to come because of several factors which are:
1. People are just plain scared, in general, about what is going on with our economy, our government, and world affairs.
2. Baby Boomers are nearing retirement age and they do not want to be tied down to a property that they may or may not be able to sell when they want to.
3. The Echo Boomers are coming into the market, and they are a generation that has grown up knowing renting as a way of life. They have been in some of our worst economic times and have a sense of uneasiness about tying themselves down into long term debt in home ownership.
4. It is much harder today to qualify for a loan than it was in years past. That I believe is going to be the norm because banks have really been hit hard by bad loans and the wave of foreclosures.
5. There is a sense of uneasiness in the economy and in the markets, people are gunshy about investing in the stock markets. A friend of mine, who was big into daytrading, is sitting on the sidelines because he thinks its just to unstable right now.
These are some of the reasons I believe are good times to be investing in apartments today. The investment to me is more secure because it is backed by a hard asset, the property itself. Also, vacancies are at an all time low, which means more income is being produced from more units being rented out.
Please share your thoughts:
Categories: Apartment Investing