Apartment Industry Weathering the Storm
The apartment industry was buffeted by crosswinds in 2008 according to the National Multi Housing Council’s (NMHC) 20th anniversary ranking of the 50 largest apartment owners and the 50 largest apartment managers.
The bursting of the housing bubble continued to pull house prices downward and teach Americans that homeownership is anything but a “can’t miss” investment. But offsetting that pro-renting effect is one of the nation’s worst economic and financial market crises since the Great Depression.
“The apartment sector is better positioned than most to produce a robust recovery, however,” noted NMHC President Doug Bibby. “It is not overbuilt, like the single-family sector, and demographic trends, changing lifestyles and our desire to grow more sustainably all point to strong long-term demand for apartments.”
See this years’s NMHC 50 – a rating of the top apartment owners and managers in the country.
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