Visionary Property Managers Anticipate Tomorrow's Rental Markets
“All the king’s horses and all the king’s men couldn’t put Humpty Dumpty together again.” Most of us can remember this childhood poem which has important lessons and reminders. The winds of change are blowing powerfully since the results of the November 8, 2016 U.S. elections. As the financial markets adjust to the changes and uncertainties so will the housing and rental markets.
The rental markets have seen many consecutive years of growth and prosperity. I’m not suggesting that our industry is like “Humpty Dumpty,” but I want property managers to be prepared. First question: who will be tomorrow’s renters? According to The Zillow Group’s recent "Report on Consumer Housing Trends," the answers may surprise you.
A trend in motion is likely to stay in motion longer than expected. The Zillow study attempted “…to gain a comprehensive understanding of the United States residential real estate market. They “… employed independent market research to conduct a nationally representative, online quantitative survey.”
Some of the trends likely to endure and shape the future of the rental housing market are:
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