Interesting article out of Miami, I wonder how true it is for other markets.
(AXcess News) Miami – A recent University of Florida survey finds that the real estate rental market all across Florida is feeling the effects of the economic downturn, especially in the apartment sector as renters begin doubling up to save money, which in turn is causing the occupany rate to decline. [see the rest here]
I really think we will see more and more of these types of stories over the coming twelve to eighteen months. Not to be a pessimist. Technorati Tags: occupancy, renters double up, apartment management
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My uncle has had a house in Boca and it has been on the market for two years. He cannot sell it and he wants to get away from Florida altogether and come back to Texas. It may get worse there before it gets better. The Texas market in general is much stronger compared to the rest of the country.