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Follow on Google News | Blue Asset Management Bullish on Multi Family HousingThe result, according to Charles Blumenkehl, managing partner of Blue Asset Management LLC, is that multi-family housing has become a more popular investment for the company as it seeks to take advantage of the lower market values
By: Charles Blumenkehl According to Blumenkehl, "There is no question that new and existing multi family housing is making a return to healthier market conditions. We see this in our own fund, and our perspective is supported by studies released from both the National Association of Realtors and the National Association of Home Builders." Blumenkehl points to statistics released by the two organizations over the past two quarters which show demand for existing multiple family dwellings increasing while builder sentiment for the development of multi-family housing has increased to its highest level since 2006. "Additionally," Vacancy rates for multi family property are also declining as more families in need of housing end up renting instead of purchasing due to financing restrictions. Also, families who have lost their homes due to foreclosures or short sales having no choice but to rent for the next number of years. The Multifamily Vacancy Index, a study which measures the level of vacancies in the real estate rental market, also declined to its smallest number since the third quarter of 2006-and is half of what it was a year and a half ago, indicating substantially fewer rental vacancies in today’s real estate market. Charles Blumenkehl and Blue Asset Management LLC own, manage and operate residential and commercial rental properties throughout northern New Jersey. For more information about Mr. Blumenkehl or Blue Asset Management LLC, or to contact the company about real estate investment opportunities in New Jersey, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400. Contact: Charles Blumenkehl Managing Partner Blue Asset Management LLC 2282 Hamburg Tpke Wayne, NJ 07470 (973) 835-1400 ext. 103 Fax (973) 835-8105 cblue@bluerealty.com http://www.blueassetmanagementllc.com End
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