Interesting Times

Industry experts say consider investing in a duplex, triplex or small apartment building.

"Smaller units are typically older ... and during a downturn people prefer lower-quality properties with fewer amenities," says Hessam Nadji, managing director of research at real estate brokerage Marcus & Millichap.

Nadji also pointed out that young people are the most likely tenants in these older units and that segment of the population is growing. The baby boom peaked in the 1950s and those boomers’ children, born in the 1980s, are just going out on their own. While they have one of the highest unemployment rates now – 12 percent – they will likely be the first hired when the economy improves, says Reis Research Director Victor Calanog.

Reis identifies San Diego and Sacramento as areas expecting strong growth, as well as San Antonio, Texas, and Fairfield County, Conn., a suburb of New York City.

Nadji urged investors to buy now while prices are down. "There is a good chance that if an investor waits for a recovery to materialize, they'll see prices go up again," Nadji says.

Source: Investor’s Business Daily, Amy Reeves (02/26/2009)
Posted by John Bremner on March 6th, 2009 12:49 PMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Bremner Real Estate PO Box 1650 Ross, CA 94957
Phone:

Contact Us | NNN Industrial | NNN Office | NNN Retail | 9% Cap Rate | All About NNN | Deal Makers | 10 Mistakes | Home | Interesting Times

Copyright © 2012 Bremner Real Estate
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.