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REFI Multi-Housing Three Key Trends

REFI Multi-Housing Three Key Trends. John L. Glascock, PhD, RICs Director, Connecticut Center for Real Estate University of Connecticut. Some thoughts on Housing—Near and Far. 1. Single family Housing is not recovering quickly—this pushes apartments

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REFI Multi-Housing Three Key Trends

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  1. REFI Multi-HousingThree Key Trends • John L. Glascock, PhD, RICs • Director, Connecticut • Center for Real Estate • University of Connecticut

  2. Some thoughts on Housing—Near and Far • 1. Single family Housing is not recovering quickly—this pushes apartments • 2. Jobs are not back yet—uncertainty pushes multi-family • 3. INCOME is really down. So is wealth! These both push multi-family • 4. The YOUNG—college grads—are marrying and buying later: this again pushes multi-family

  3. 1.a. Housing Spending is STILL DOWN! • When Housing is 40% below recent norms. • The average college educated family now is married by 30 and has their first child by 32! • MORE rentals and fewer Owner-occupied.

  4. 2. Jobs are not back federal employment is still down too! • Jobs are not fully back • High value added jobs are still declining—the jobs that are back are low income jobs

  5. 3. income has NOT come back!

  6. 3.b. and Home EQUITY—Back to 1968 Value!

  7. Young Marrying Later • Typical college grad today gets married at 30…thus ownership will come later • All of these factors favor multi-family

  8. Questions

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