Comments on: Apartment Vacancy Rate Hits Its Highest Point In Nearly 25 Years http://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tony Ohttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-75146 Tony O Tue, 10 Nov 2009 15:08:23 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-75146 Hi Dave, Colorado? Is it now in the top 5?What are the other top 4 (Washington...)?Thanks Tony Hi Dave,
Colorado? Is it now in the top 5?

What are the other top 4 (Washington…)?

Thanks
Tony

]]> By: Dave Thyfaulthttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-74950 Dave Thyfault Thu, 05 Nov 2009 04:25:41 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-74950 Well, actually you are all correct. You see the truth is that real estate rental market is not universal. It all depends on what sub-market you are in. At the present moment there are several rental markets that are doing very well. As an owner of nearly 300 units in Denver (one of the the top 5 markets in the US) I can tell you that two years ago we experienced what Tony is discussing but in the last year things have changed. Two years ago our vacancy rate was about 14% now it is half of that. Our employment figures are above average and things look fairly bright. As a result young people are willing to move out of mom's house and others are willing to take on apartments with fewer roommates or apartments of their own. So the bottom line is it is largely a local matter. Well, actually you are all correct. You see the truth is that real estate rental market is not universal. It all depends on what sub-market you are in. At the present moment there are several rental markets that are doing very well. As an owner of nearly 300 units in Denver (one of the the top 5 markets in the US) I can tell you that two years ago we experienced what Tony is discussing but in the last year things have changed. Two years ago our vacancy rate was about 14% now it is half of that. Our employment figures are above average and things look fairly bright. As a result young people are willing to move out of mom’s house and others are willing to take on apartments with fewer roommates or apartments of their own. So the bottom line is it is largely a local matter.

]]> By: Dave Sharphttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-74893 Dave Sharp Tue, 03 Nov 2009 16:43:35 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-74893 I guess I missed that part. Whoops! That certainly makes plenty of sense. Thank you Tony. I guess I missed that part. Whoops! That certainly makes plenty of sense. Thank you Tony.

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-74892 Joshua Dorkin Tue, 03 Nov 2009 16:06:03 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-74892 Well put, Tony. I couldn't have put it better myself. Well put, Tony. I couldn’t have put it better myself.

]]> By: Tony Senahttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-74885 Tony Sena Tue, 03 Nov 2009 07:27:42 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-74885 Dave,That would make sense but unfortunately that is not what is happening. We are seeing many who have lost their homes are moving in with family and friends in order to get back on their feet. A percentage of homes that are foreclosed are purchased by investors who are placing them on the market for rent which is increasing inventory and vacancies and driving rents down. Dave,

That would make sense but unfortunately that is not what is happening. We are seeing many who have lost their homes are moving in with family and friends in order to get back on their feet. A percentage of homes that are foreclosed are purchased by investors who are placing them on the market for rent which is increasing inventory and vacancies and driving rents down.

]]> By: Dave Sharphttp://www.biggerpockets.com/renewsblog/2009/11/02/apartment-vacancy-rate-hits-highest-point-25-years/#comment-74880 Dave Sharp Tue, 03 Nov 2009 04:01:33 +0000 http://www.biggerpockets.com/renewsblog/?p=8241#comment-74880 I'm trying to understand how rents are falling. I understand that people are losing their homes. Wouldn't that then mean that more people are renting? Wouldn't that result in higher rents? I’m trying to understand how rents are falling. I understand that people are losing their homes. Wouldn’t that then mean that more people are renting? Wouldn’t that result in higher rents?

]]>