… A number of major metros
CBRE Econometrics is out with
a new report showing population growth trends in major US metros has shifted towards urban centers since 2010 but apartment building investors have been keeping pace (or exceeding it) with new construction. Author Gleb Nechayev, Senior Managing Economist lays it out nicely in a series of charts:
First Population Growth Average Change 2000- 2010
source: CBRE Econometrics
Raleigh is the only metro with significant urban vs. suburban population growth. Note that one-county metros such as
Continue reading CBRE Research: Since 2010 population shifting towards urban but apartment building construction is outpacing growth in
In a piece just out today ReisReports says that new apartment starts have been postponed to 2014 by many developers.
The “bubble” now shows up in 2014, but if economic growth ramps up, then additional supply will most likely be absorbed relatively painlessly.
But not all Metros escape. The report mentions Washington DC and suburban Maryland as two of those who will still see large increases in supply next year.
Interestingly they name Seattle as a market that should be able to absorb the new supply coming because
Continue reading Risks to Apartment Overbuilding Averted, For Now says ReisReports
Coming soon to these big MSAs, lots of new apartments:
New York-Northern New Jersey-Long Island
Washington, D.C.-Arlington, Alexandria
Los Angeles, Long Beach-Santa Ana
Austin-Round Rock-San Marcos
Miami-Fort Lauderdale-Pompano Beach
For details see:
MFE Mag online
Will they be able to fill them all? How will older properties in these markets fare? Let us know what you’re seeing-