Mar
04

Multi-Family Renters Poised to Lose Upper Hand

By
– The Wall Street Journal

New Yorkers briefly enjoyed a superior bargaining position. Renters – the ones with jobs anyway – have been having a good run the past year or so. But the party may be drawing to a close. The evidence, apartment operators are gearing up to build new rental units.

This year, real-estate investment trusts, or REITs, are expected to start close to $1 billion in new multifamily projects, according to real-estate research firm Green Street Advisors. While that still is less than average, it is a significant increase over the $100 million of development starts in 2009.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://blogs.wsj.com/developments/2010/03/03/renters-poised-to-lose-their-upper-hand/
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