Multi-family Jobs

Looking to the Future

Multi-family real estate will always be an essential part of the housing supply in the United States. Its major appeals are the flexibility of leasing, no property taxes, and the affordability of little out of pocket expense. Currently, the single family housing industry is experiencing steep declines in overall sales and new home starts, resulting in increased pressure on apartments. The origination of sub-prime loans and adjustable rate mortgages in recent years has severely crippled the credit market. As these loans are defaulting, banks are losing money and people are losing their homes. All of these occurrences signal increased demand for the multi-family sector, resulting in hiring across the multi-family platform. As more workers elect to go back to school during bad economic times, the demand for student housing will also increase as will rental options for seniors. Multi-family housing vacancies are expected to decrease over the next three years as apartment development fails to keep up with increased demand. Eventually credit will begin to flow back into the housing market, the economy will improve, and renters will again become buyers. It will be the multi-family owners and operators that cater to their target market and maintain quality properties that will continue to be successful in the years to come.