Search
 

What’s Behind the Zeal for B and C Multifamily?

HOUSTON—The city has continued to post 12-month net job gains and at the same time, homeownership is down nationwide, along with global macroeconomic and US economic conditions at play.

Class-C multifamily The 236-unit class-C multifamily residence is located on eight acres in North Houston.

HOUSTON—From 2010 to 2014, the metro added nearly half a million jobs. The city has continued to post 12-month net job gains throughout 2015 and 2016, according to research by Greater Houston Partnership. The service industry is among the largest growing sectors, with four out of five workers in the Houston area employed in a service field.

At the same time, homeownership is down nationwide in response to the recent recession and real estate market crash. In 2015, the US Census Bureau reported the share of the US population who own homes had retracted to 63.4%—a 48-year low. Millennials have contributed in large part to this decrease by renting 2.6 years longer on average than earlier generations, according to Zillow real estate data.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

More from this author

Recommended Stories

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.