I recently read an article about the state of the apartment rental market and it was interesting to see that even with all the foreclosures happening around us, the demand for apartments has not increased dramatically. It has remained pretty flat. And even though the apartment rental market is still in excellent shape, vacancies are still low and prices continuously going up, the question becomes, where are all the people who used to own a home currently living?
Well, there are a few possibilities where those folks could be living currently:
1. Prior home owners may be more prone to renting another single-family residence vs an apartment.
2. They may be living with other family members to recover from the foreclosure nightmare.
3. They could have become eligible for affordable housing due to being a part of the larger financial collapse.
So, if you have any other suggestions as to where people are moving to after their homes are being taken, please share that with us. I read so many statistics on vacancy rates, pricing etc on apartments, office, retail etc, but you don't find that much information on this almost "shadow-like" part of the rental market.
After all, people have to live some place, the questions is where?
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