Economic naysayers around the Triangle rest a lot of their argument on the notion that the Triangle is often the last area to feel an economic meltdown and the first to climb out of it. Well, maybe they're right. To an extent, anyway.
It seems that money continues to flow into the market for new jobs and economic development, which is the core driver of multi-family property. The small multi-family market is holding steady, from a rent and occupancy numbers perspective. Class A, institutional-grade developments are also doing pretty well, despite the prospect of over-building.
But let's not get nuts. People are hurting. Lending has fallen off a cliff (probably the one they built with the mountain of documentation they now require), creating headaches for even qualified buyers. Right now, the best match for a sale is a motivated seller and a cash-heavy buyer. And that's not a real compatible pair.
Hold tight, folks.
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