The U.S. Housing market is poised for a comeback. The “shadow inventory” has been absorbed. Interest rates are still at historic lows. And while lending standards are still tight, more Millennials are beginning to form households. A strong housing market is good for a local economy. It creates jobs. That is great news for apartment investors.
On a related note, let’s revisit this 2015 forecast. 29 million millennials still live at home. Not all of them will buy a house as their first housing decision. Many of them will rent.
When talking GSE’s, Freddie Mac often steals the headlines with their big moves in the commercial multifamily space. Fannie Mae is also a prominent player in commercial multifamily. And they share Freddie’s bullish outlook.
Wealth is not an end in itself. It is a vehicle for time and choice. It’s a satisfying aspect of our job to realize many of our Multifamily partners are looking to create wealth as a lever for a larger and more selfless goal. And philanthropy is always a great choice.
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