The Slow Comeback Continues

Millennials are making an economic comeback. They still have a way to go. We have highlighted the debate around what Millennials will do as their employment and financial picture stabilizes. A negative savings rate implies they will likely remain renters for some time.

Given the link above, this news is no surprise. As long as Echo Boomers sit on the sidelines of the housing market, any housing recovery will be tepid at best.

A year or so ago, we mentioned the story of Jerry Buss, who leveraged an apartment building investment into owning one of the most famous sports franchises in the world. I was reminded of his story when reading about Paul Allen. Allen owns several sports teams including the Super Bowl champion Seattle Seahawks. But he is growing his fortune through apartment investing.

You should always look for future risks in apartment investing. They are out there. The real question with this legislative initiative will be in implementation. It bears watching how apartment owners react in their leasing strategies.

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