A turnaround in site?

[Ken B]

I routinely review various employment sites. During the past couple of weeks there have been quite a few advertisements by various development groups for acquisition and investment analyst type positions. I have noted more than a couple apartment investment companies with open analyst positions.

I wonder if they know something?

 

[Mr Rex]

That would be "sight", unless you are trying to be cute. TC has been conspicuosly absent recently.

 

[TJSum]

In the DC area from 1998-2006 the fad was to convert apartments into condos, and all new construction was built as condo. Since 2006, the fad is the reverse, many new constructions are changing from condo to apartments if it is not too late in the process. So it actually could be a sign of the times that the money is back into the apartment game and not into condo ownership.

 

[Ken B]

That would be "sight", unless you are trying to be cute. TC has been conspicuosly absent recently.

I was just trying to give you something you could legitimately harass me about.

 

[Restrain]

What you are seeing are REITs looking at putting money into long-term investments. There's a lot of money that's been on the sidelines, and now they're looking for products. They recognize the short-term may be down, but the long term is their plan.

 

[William Rightsell]

Apartments are HOT HOT HOT

The REIT's are snapping up apartment housing left and right. A local one here (Steven D Bell & Co) just recently closed on 26,000 units all over the Southeast. It was a 1.6 Billion dollar deal. He now owns or controls over 60,000 apartment units nationwide - most in the Southeast. For him to nearly double his apartment holdings in one transaction speaks volumes.

Many other REIT's are snapping up apartments too. After all, all these folks with foreclosures on thier credit are gonna have to have a place to live for the next 10 yrs until thier credit is straightened out. Not only that, but MANY MANY of these forclosures were on investment properties with tenants in them - so those tenants still need a place to rent.

Apartments are looking sweet right now...

todd