After being hit hard by the housing bubble's collapse and the associated recession, the Southwest is seeing good times now for apartment owners, with vacancies down and rents up.
Vacancies were over 13% and unemployment was 14% at one time. Not now.
"The apartment market in the Southwest is benefiting from constrained supply due to scant new completions, while demand for apartments remain strong," Multi-Housing News quoted Reis Inc. economist Ryan Severino as saying. "With the for-sale housing market still struggling amid deflationary pricing and tight credit conditions, the apartment sector is making strong gains."
