For the third consecutive year, Apple tops the list of most innovative companies.
The Multifamily Housing Opportunity
After a 30 percent drop in home prices in the last four years and forecasts of a slow real estate recovery, industry analysts are seeing a greater demand for rental housing. Though the residential market has suffered overall, the rental business has been thriving. Rental prices are on the rise and occupancy at apartment complexes is higher than it's been in the last three years.
Not surprisingly, companies that build multifamily rental housing are enjoying a renaissance. While lenders might still shy away from financing for-sale condominiums, most are tripping over each other to fund the development of rental housing, especially in denser metropolitan and suburban downtowns. Manhattan rental occupancy in the second quarter eclipsed 98 percent and average asking rents had spiked to more than $3,720 a month for a two-bedroom.
Investors take note: The numbers show a national trend that has pushed the return on apartment investment to almost 15 percent, according to the National Multi Housing Council.
Noted economic prognosticator Gary Shilling said the end of housing's salad days have trumpeted a return to sensibility in the residential real estate market. Because it will take many years for prices to rebound, he said people can no longer count on a house as being a great investment and more will begin to separate their financial speculation from where they live.
Shilling said young families are probably going to stay in apartments longer and more empty nesters will want to stop sinking money into a house not going to jump in value anytime soon. All signs show it's already happening.