With vacancies down in the multi-family and apartment housing in Southeastern United States, rental applications are at an all time high and job growth is strong. It is an excellent time to invest in the multi-family housing market. According to the panelists at the National Multifamily Housing Council, growth would continue beyond 2016, their predictions was fueled by many factors.
The strong job growth has multi-family rentals in high demand.
A majority of the apartment application pool include baby boomers and Millennials.
Developments have capital readily available.
Increase in population in Southeastern cities is creating an increase in the market.
In President Obama’s state of the Union address in 2016, he called for more affordable housing. The National Multifamily Housing Council responded by asking the local, state and Federal Government to reuse the red tape and existing barriers to make it easier for developers, “addressing the housing and tax reform in a way that recognizes the unique characteristics of the apartment industry.”
“Everyone agrees multifamily works,” according to NMHC’s President Doug Bibby and Chairman Bob Dewitt, vice chairman, president and CEO of GID. “All of us recognize that Fannie Mae and Freddie Mac’s multifamily programs maintained solid underwriting standards and strong credit performance even during the global financial crisis and, importantly, kept capital flowing to our sector even in the depths of that crisis.” In the essay “Rebuilding Housing Finance on a Strong Foundation,” both Biddy and Dewitt discuss the financial challenges and long term solutions for multi-family housing.
If you are thinking about moving forward with your apartment or Multi-family housing development or have any questions, contact SWET Construction Group. You can feel confident SWET Construction Group, our experienced team, advanced knowledge of construction, high quality products, on-site management, turn-key solutions and precise estimation, will deliver the results you’re looking for on budget and on time.
The expert management team at SWET Construction Group is proud to provide cost competitive construction. All of our projects receive continuous supervision, customer satisfaction and attention to detail, from beginning to end.