‘The Accidental Economist’ with Jack Kern: Ordinary People
July 7, 2011
The people who rent apartments are not objects of study and derision for homebuilders, but instead just ordinary people who need a place to live.
For the past four years I’ve been in practice, the focus has been on how multifamily would be affected by the recession and whether or not owners would be able to survive the recovery. Along the way we were treated to an avalanche of reports on foreclosures, failing single-family home markets, and what was supposed to be a rush of new renters, previously from foreclosed homes, filling up apartment communities. It did occur to me that a lot of that happened, but not in the way it now seems to be popularized. I think it’s a good idea to reset how the stage looks and really focus on the new world order in rental.
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