The multi-family market is the strongest it has been. There is a tremendous shortage of apartments in the U.S., that continues to rise year by year, as the baby boomers reach retirement age, and the percentage of new home ownership continues to decline.
A new study just released reveals that the U.S. must add 4.6 million new apartments by 2030 at the rate of 325,000 a year, to meet rising demand, but the industry is simply not capable of keeping up with the demand. In California especially, there is a tremendous shortage of supply that we will be very hard pressed to fill.
Demand for retail and office investments continues to decline with technological innovations accelerating the financial obsolescence of the retail and office sectors; the multifamily sector rises in the spotlight as the #1 investment of the decade.
If you consider liquidating or exchanging any multifamily assets, please give me a call. I look forward to talking with you soon.
Best regards,
Mike Wahba
President
Global I.N. Inc.