By Max Taves | The Wall Street Journal
Apartment landlords have been the envy of the real-estate world in recent years, as strong demand has pushed down vacancies and lifted rent levels.
But the question property investors are asking is: How long can the good times last? The pessimists argue that new construction soon will outstrip demand, reducing landlords’ ability to increase rents. Optimists say demand will remain strong for years to come, in part because the economy is producing more jobs but not enough earning power for many renters to become homeowners.
“The need for apartments is going to exceed the inventory” becoming available in the next few years, predicts Chapin Bell, the president of Scottsdale, Ariz.-based P.B. Bell Cos. He is putting his company’s money behind his remarks.
Comment by Cameron Carter, director of Rose Law Group Transactional Department: “We have been active in due diligence and acquisition for these multifamily projects and I anticipate that will continue,”
