Fannie Mae sees continued demand for apartments

02/6/2008 | Commercial Property Executive

Fannie Mae expects further strong lending for multifamily units this year, following its record $60 billion last year. Future indicators include U.S. population growth of 14 million people over the next five years, growth in the primary renter cohort of 21- to 34-year-olds, jobs expansion and rent prices growing at 1% to 2%, said Phil Weber, senior vice president of Fannie Mae's multifamily division. On the other hand, slow home sales will lead to single-family and condominium housing added to the rental market, creating increased competition for apartment owners.

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