LilBob

Are We Becoming a Nation of Renters? Investing for the New Housing Dynamic

I have to side with Marty on being skeptical of apartment REITs. While I do agree that there are obvious economies of scale presented by multi-unit residences, there is such an enormous backlog of oversized homes that could (and will eventually) be converted to multi-occupant dwellings, and so many multi unit properties sitting in urban neighborhoods waiting to be renovated as soon as rising gas prices prompt more Americans to move back towards the cities that I just don't see any rational demand for new construction; especially when many of those older homes in the cities have hardwood floors, large windows and unique architectural details that make new construction look like a housing project by comparison.