Once again another illustration of the strength of the apartment residents -- especially in booming markets -- are likely to find their wallets lightened by the rising rental rate.
Which is why we are not seeing much relaxation in MUH prices, except in cases of badly managed properties or situations where a Seller got into the property at far too high a price, paying far too high a note to the lender, with the result being a severely distressed property that residents are leaving because of continuing deferred maintenance (that the seller cannot afford).
Ron Johnsey, president of Axiometrics, which conducted the study, says some markets, though still experiencing solid increases in effective rents, "have slowed down a bit, but overall the trend is onward and upward."
Did I mention I LOVE multifamily? Especially campus MUH.....
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