Houston Apartment Forecast
by: Ed Mayberry, December 21, 2005 12:12:00 am
Prior to the hurricanes, apartment vacancies were considered too high by O'Connor & Associates, largely due to overbuilding and the lower homebuying costs. Stacy Hunt with Greystar says there's a concern over what will happen over the next four or five months, as evacuees return to Louisiana.
Hunt says job growth continues to be the key to apartment occupancy. Hunt says there's been concern among apartment managers about ensuring that FEMA's 12-month voucher commitment for evacuees will be honored.