Resilient

 

Class B & C multifamily investments weather storms. Even in the 2008 downturn, B and C vacancy rates never rose above 8 percent. Other real estate classes fared worse, and we all remember what happened to the Dow Jones Industrial Average, which took six years to crawl back to its 2008 peak.  Stability and resiliency are hallmarks of Multifamily.  Even during Covid Pandemic uncertainty, rent collections showed tremendous resiliency.  According to NHMC 7 months into the pandemic rent payments made are still 90%.  Typical payments made are in the high 90’s …so Covid has had a minor impact versus the perception (-4-7%).  People are paying their rent in order to keep a roof over their heads.  This is the benchmark of housing as a base need and why this element is so important.