Realty Times (03/24/08); Mosca, Peter L.
The National Association of Home Builders' (NAHB's) latest Multifamily Rental Market Index (MRMI) shows that builder sentiment in the rental apartment sector soured during last year's fourth quarter. The MRMI is derived from a quarterly survey of multifamily housing builders and developers, in which their responses are rated on a scale of 0 to 100. For last year's October-through-December period, the measures that gauge builder confidence in the current supply and demand conditions for all classes of multifamily housing except the most affordable apartments fell to or below 50--the threshold at which the number of positive responses is about the same as the number of negative ones. RealSource co-owner Michael Anderson sees opportunity in the current market conditions, stating, "There is no better time to invest in multifamily housing. Builders who understand this and can find the right place at the right time to develop new multifamily and apartment buildings will enhance profitability."
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