Home Properties (NYSE:HME) is an Apartment REIT operating mostly in East Coast metropolitan areas. They own, operate, acquire and rehabilitate apartment communities. Once the properties have reached their full potential under Home's ownership, they are sold. Home redeploys the proceeds to purchase other communities which may need work and can generate higher returns.
Home ownership in the United States peaked in 2004 at 69% and has since been steadily declining, dropping to 65% in 2012. Most experts believe the preference to rent is a cultural shift. Renting provides freedom and flexibility while home ownership has become more difficult. The benefactor to this trend is apartment owners and operators such as Home Properties.
Home Properties offers a steady, growing...
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