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Guess Who’s Driving the Demand for Rental Apartments?

Even as housing and the greater economy slightly improve, a shift in demographic trends will likely favor the rental apartment market for the foreseeable future. It is all about women. Women are getting married later, having kids later and out of wedlock, all prompting them to seek the convenience of large, full-service rental apartment buildings.

There is also a tremendous amount of pent-up demand for the rental market, as nearly 23 million young adults, male and female, under age 35 (31 percent of the cohort) are currently classified as ‘living at home’ with parents, according to Raymond James’ analysis. As job growth improves, they will move to rental apartments; the homeownership rate for this group is only 34 percent.  To read more…

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January 30, 2013 - Posted by | Uncategorized | , , ,

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