There are four basic phases of a market cycle. Many people right now are in slower markets. Some are in emerging markets.
What you’re hearing on the news these days is how the real estate market is changing.
The good news is that slow markets are the best time to be multi-family properties. That’s because as homes become over-supplied, people stop buying them. They stay in apartment buildings, and that means occupancy increases.
We also know there are a lot of foreclosures taking place. When people get foreclose out of a property – and there’s a huge national wave of foreclosures going on now – those people go back into apartment living.