Jul
29

Why The Apartment Cycle is Good for Five More Years

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Apartment-Complex-ClubhouseFundamentals in the multifamily space should continue their golden trajectory for several more years, based on the latest numbers about US homeownership from the US Census Bureau. Indeed, coupled with other recent reports on multifamily dynamics, it is safe to call the asset class bullet proof, at least for the medium term.

US home ownership, of course, has been steadily falling since the Great Recession. On Tuesday, though, it hit a low that gives one pause — to say nothing of putting it within spitting distance of awe-inspiring benchmark.

US homeownership is now at 63.4%, which is the lowest level of home ownership in this country since 1967. There is little to suggest it won’t stop falling: in Q1 it was at 63.7%. In 1965, when the government started tracking home ownership the level was 63% — a percentage that seems like it is but a few quarters away again.

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