The US multifamily market could see an explosion in rents in roughly three years time as surplus rental inventory and condo stock is absorbed, Caldera Asset Management co-founder Mike Kelly told PERE.
However, investors in the sector shouldn’t expect to see a return to rental levels seen prior to the credit crisis, with Kelly warning: “It does depend on the city, of course, but generally 2012 is not going to be a repeat of 2007.
