For the sake of this article and for the benefit of the uninitiated, I decided to provide you with a connotative definition before we move forward. I figured a few keystrokes into Google’s search bar would quickly help me lay my foundation and set the tone for this editorial and VOILA, some of that instant anger I mentioned in the beginning.
We can spend all day long talking about cap rates, interest rates, and investment sales, but at the end of the day the trends begin with the renters and everything else follows suit. So what are our renters up to?
There have been endless articles written on how millennials are changing the demand for housing, but not enough articles have been written on why. Millennials showing a preference for apartments and urban areas has dramatically increased the demand for multi-family units, and developers are racing to meet the demand.