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| The Economics of the Apartment Market in
the 1990s Author: Kenneth T. Rosen Start Page: 215 Abstract: This paper examines
fundamental and investment demand for rental apartments in the 1990s. Demographic and
economic trends fuel the demand for rental housing. While rental demand in the U.S. as a
whole will be somewhat weak in the 1990s, demand will be strong for areas with high
in-migration, due to the younger age characteristics of movers, and the high costs of
homeownership in many regions. Apartments represent one of the few real estate product
classes in which demand will outpace supply in the 1990s. This impending supply-demand
imbalance will result in substantial increases in real rents and investment values in
select apartment markets across the country. This report proceeds to describe some of the
major financial, economic and demographic conditions that will create attractive
investment opportunities for institutional-grade apartment investments in the 1990s. |
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