First Quarter 2014 Leading Income Rental Markets
Palos Verdes, CA. The Center for Real Estate Studies (CRES) has just released their 1st quarter 2014 issue of "Market Cycles". It gives a forward look on more than 150 income rental markets with "buy and sell" recommendations.
- (1888PressRelease) April 27, 2014 - The current number of markets in the "Sell Phase" is twenty-seven, according to Eugene E. Vollucci, Director of CRES. The number of markets in the "Buy Phase" is twenty-two. Mr. Vollucci states, "that this quarter the three buy recommendations are Bakersfield, CA, Las Vegas, NV and Provo UT, the three sell are Madison, WI, San Francisco, CA and El Paso, TX."
Despite the worst economy in a generation, apartments have remained a positive economic force, contributing to the nation's economic recovery with every dollar spent by the businesses that build and operate apartments and the people who call them home. According to the report, featuring data and research by George Mason.
The collective economic impact of apartments and apartment residents is only set to grow as greater economic stability and stronger job creation lead to stronger household formations. In fact, as many as seven million new renter households could be created this decade, driving more demand for apartments-both new and existing-and ultimately fueling critical spending.
Demand for rental housing has grown as the US economy has strengthened since the end of the Great Recession nearly five years ago. Steady job growth has made it possible for more people to move out on their own and rent their own apartments. Yet rising home prices are preventing many from buying.
A combination of rising rents and sluggish pay gains will probably continue to weigh on the economy, which relies on consumer spending.
ABOUT THE AUTHOR: Eugene E. Vollucci, is the Director of The Center for Real Estate Studies, a real estate research association and author of "How to Buy and Sell Apartment Buildings" To purchase a subscription to Market Cycles and to learn more about the Center for Real Estate Studies, please visit our web site at http://www.calstatecompanies.com
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