With the residential single-family home market correcting itself and affordability for most prospective buyers on the decline, real estate consumers are putting their dreams of homeownership or a vacation home on hold, prompting the demand for rental property to rise. For builders, rising occupancy rates and monthly rents, and increased traffic at all classes of rental apartments are all signals that multifamily is hot and will be for some time to come.

“The fact real estate generates more wealth is and will always be accurate for one simple reason, real estate, or more accurately, land control is the basis of all wealth,” explained Michael Anderson, RealSource Principal, whose firm brokered $400 million in multifamily product through its debt and equity financing and broker referral programs. “If I were a builder, I’d give serious consideration to adding or increasing a multifamily product line as the rush to convert rental condo units to for-sale properties, coupled with a number of market factors, has left a demand vacuum for rental housing.”

Real estate agent Caesar Parisi stands ready with effective advice on buying or selling Boca Raton FL condos.

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