Welcome to Apartment Building Trader

The Los Angeles Times recently posted an interesting Q&A. The expert answering the Q&A was Nicolas P. Retsinas, director of the Joint Center for Housing Studies at Harvard University.

Nicolas P. Restinas answers several questions regarding the effects foreclosures will have on the rental market. Restinas states that the numerous owners are becoming renters and creating a high demand for housing, a restrained supply and thus causing a rise in rents.

He goes on to predict a steady rise over the next two to three years and believes that this may extend even further — possilbly into the next five years. He makes note of a slight offset due to the fact that some foreclosed properties will not be sold and converted as rentals. Nonetheless, his overall view is that rents will be on the rise as demand for housing increases! -L.A. Times (Full Article)

This entry was posted on Tuesday, November 13th, 2007 at 10:05 pm and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.