You better believe this is going to affect the apartment market. That along with another story I will post is short. I would love to hear your thoughts on the state of the apartment market. Drop me a comment or two. But first, a quote from the story I am linking up:
“You had a booming real-estate market, and then it just
stopped,” he said, adding that a glut of condominiums is probably a part of the
problem.
Vacancies also jumped in some once-booming Western cities.
Between 2005 and 2007, homeowner vacancies more than tripled to 3.8% from 1.2%
in the Riverside-San Bernardino area, part of California’s Inland Empire, east
of Los Angeles. In the Sacramento area, vacancies jumped to 4.2% from 1.2%. And
in the Phoenix-Mesa-Scottsdale, Ariz., area, vacancy rates soared to 3.7% from
1%. [click here to read the rest]