According to the latest Yardi Matrix, rents increased 3.2% in February on a year-over-year basis, matching January’s growth rate, as demand for multifamily has yet to feel any major impacts from the Coronavirus outbreak. However, they caution that the Coronavirus is likely to cause a technical recession. Indeed…
“…the majority of the industry remains well capitalized and strong enough to weather a modest slowdown…most real estate investors are poised to sustain their operations, and may see an investment opportunity as the market shocks continue.”
“It seems inevitable that the U.S. economy will experience a technical recession. Business travel has all but stopped and personal travel has slowed considerably, leading the airline industry to be one of the hardest-hit sectors. Restaurants and tourism will also feel significant pain as trips are canceled and social distancing increases.”
Click here to read the full report at YardiMatrix.com.
