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Phillipsburg's apartment stock, "is continuing its historically stabilized run, recording a rent appreciation rate of five percent in the past year,” says Stephen Tragash, Gebroe-Hammer Associates senior vice president.
Most investors still involved in the SFR markets now view it as a good long-term play in an asset class that is early on in its maturity and with much room for innovation, ATTOM Data's Daren Blomquist tells GlobeSt.com.
Despite general pricing inflation lately, "the markets do not appear to be suffering from the irrational exuberance that has characterized the end of other expansions,” Transwestern's McNearney says.
Mayor Bill de Blasio is ending the 17-year-old cluster site program, helping non-profit developers acquire the properties to create affordable housing.
The outlook for 2018 remains strong with the expectation for more cap rate compression and even higher pricing, Jeff Rinkov of Lee & Associates says in this EXCLUSIVE interview.