Thank You National Apartment Association. I will do my best to get this very important information out ASAP to numerous owners, investors, huge property management companies (e.g., Riverstone Residential), attorneys, and judges, AND, of course, to the MANY people who are currently living in MOLD-INFESTED APARTMENT COMPLEXES right now! katy
By Prashant Gopal
July 27, 2010
Some highlights from the story
“July 27 (Bloomberg) — U.S. apartment landlords are seeing a surge in rentals as mounting foreclosures reduce homeownership and an improving job market for young adults encourages them to find their own places to live.”
“The Bloomberg REIT Apartment Index gained 24 percent this year through July 23, double the 12 percent advance in the broader Bloomberg REIT Index. The Standard & Poor’s Supercomposite Homebuilding Index fell 5.4 percent.”
“As homeownership continues to decline, people need to live somewhere,” said Henry Cisneros, who was President Bill Clinton’s housing secretary from 1993 to 1997 and is executive chairman of CityView, a real estate investment firm in Los Angeles that focuses on urban projects including apartments.”
“The rental market will be robust for the next few years,” Cisneros said.”
“Equity Residential, based in Chicago, has pushed rents up by “high single digits” in all of its markets since January, Chief Executive Officer David Neithercut said in a June 11 interview. Funds from operations in 2011 also will rise 8 percent, according to a survey of 22 analysts.”
“Landlords won’t be able to raise rents too aggressively because unemployment remains high at 9.5 percent and declines in home prices have made it no more expensive to buy than rent in about half of larger markets around the nation, Willett said.”
“Riverstone Residential Group of Dallas, which manages 175,000 units in 30 markets around the country, reduced average concessions to about a half-month’s rent from about two months a year ago, CEO Walt Smith said. Vacancies have fallen below 5.9 percent in buildings that aren’t newly constructed, from 8.25 percent last year. Smith said he expects significant rent growth by 2012 as supply tightens with so few new units being built.”
“Landlords are cautiously testing the strength of the submarket their property is in to see if the market will withstand small rent increases,” Smith said. “In most markets, they’ve been successful.”
businessweek.com
U.S. Chamber of Commerce & Deceit in Mold Litigation
TRUTH OUT Sharon Kramer Letter To Andrew Saxon MOLD ISSUE
Sociological Issues Relating to Mold
“Changes in construction methods have caused US buildings to become perfect petri dishes for mold and bacteria to flourish when water is added. Instead of warning the public and teaching physicians that the buildings were causing illness; in 2003 the US Chamber of Commerce Institute for Legal Reform, a think-tank, and a workers comp physician trade organization mass marketed an unscientific nonsequitor to the courts to disclaim the adverse health effects to stave off liability for financial stakeholders of moldy buildings. Although publicly exposed many times over the years, the deceit lingers in US courts to this very day.”
Sharon Noonan Kramer
Riverstone Residential Litigation
Links to Riverstone Residential Mold and Illegal Business Practice Complaints and More!
Katy's Exposure 