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Wednesday, April 02, 2008

Tough Times for Apartment Investors

By Ben Johnson
Jan 1, 2008 12:00 PM

A long shadow hangs over the U.S. apartment market at the start of 2008. The combination of a potential supply glut fueled by a growing number of condominiums and single-family homes available for rent and the ongoing subprime mortgage crisis threatens the health of the sector.

The upshot? Some markets are bound to fare better than others. “There is a real divergence taking place right now in the apartment market between winners and losers,” says Michael Cohen, research strategist and head of multifamily research at Boston-based Property & Portfolio Research (PPR).

“Market selection for apartment investors is really very important at this point in time because there are some markets that are very clearly going to become laggards going forward over the next couple of years,” adds Cohen.

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