Interesting Bloomberg Article on the Increase in Landlords
Hi folks - ran across this Bloomberg article on LinkedIn this morning. https://goo.gl/VW2JFF
Not such a surprise to this crowd I'm sure. The looming question for me isn't necessarily that we're crowding out the potential first-time home buyer but how we address the livability factor. IE rents are escalating at a fast clip. Faster then seen in a decade and yet affordable housing (when I say affordable housing I'm not talking subsidized housing) for middle-income families as well as for single-wage service people isn't being built. It's mostly luxury or higher-end homes, townhomes, and condos that are in the works. So, for the developers out there, with so many people who are paying more than 30% or more of their income in rent, making it impossible to save or a home eventually and even pushing the limits of being able to make rent, why isn't building more affordable housing seem appealing? Do we really still have that much of a demographic left that can continue to absorb high-end inventory? Thought this might be a fun conversation with so much going on in Nashville.