Here Comes the Multifamily Boom?

Well, it had to happen: with all those foreclosures and consumers losing their homes and flocking to apartments, multifamily units have been filling to the brim. It's not quite as bad as the turn of century (two century turns ago) when immigrants were sleeping 10 to a room in Lower East Side tenements in Manhattan, but some housing experts believe all this demand for rentals will spark a housing boom: for multifamily, that is. The National Association of Home Builders is projecting a 16% increase in multifamily housing starts this year. But the 133,000 units apartment developers are expected to produce will not be nearly enough to meet demand. For the full story visit the National Mortgage News website at: http://www.nationalmortgagenews.com/.