A huge surge in rental demand and comparatively little apartment supply created a boom in multi-family construction in the last year, but with the single family housing market slowly beginning to show signs of life, the concern among banks and investors is that all that supply will hit the market just as rental demand drops off.
Based on preliminary estimates of Q4 '11 activity, multi-family loan origination volume increased to $82 billion in 2011, up from $50 billion in 2010, according to Chandan Economics.
Can I get a free copy of the International Standards of Practice for Inspecting Commercial Properties?
Rod Dunn Inspector Clouseau Home Inspections San Antonio, Texas.
Unfortunately this is another bank and lender created issue.
Lenders forclosed on a record number of homes.
Lenders tightened guidelines for mortguage loans to protect themselves.
This locked alot of the population out of home ownership, and increased the rental market.
landlords generously responded to the increase in demand by increasing rent.
This leaves renters pushing to buy a home to escape high rental cost, attracted by the badement prices of purchasing thier own home.