By Jann Swanson | Mortgage News Daily
The financial crisis was obviously better for the rental housing market than it was for the purchase market but the health of the former appears to be continuing well into the recovery. Frank Nothaft, who is now chief economist for CoreLogic after years in that position with Freddie Mac, calls the outcome of the recession, “A vibrant rental market.”
Writing in CoreLogic’s Insights blog, Nothaft says apartment vacancy rates are at their lowest levels since the 1980s, multifamily rental construction is the healthiest in more than 25 years, rents are up, and the property values of apartment buildings are at or above their prior peaks.
