Reuters (03/17/08); Carey, Nick
While the ongoing credit crunch has delayed many Americans' plans to become homeowners, the market is calling those small landlords seeking bargain-basement investment properties. On the down side, BMO Capital Markets analyst Rich Anderson notes that "an unprecedented flow of rental properties hitting the market could be a negative for multifamily REITs over the next few years." Among those that could be hardest hit are Apartment Investment and Management Co. (Aimco) and Camden Property Trust, both of which have exposure to such hard-hit areas as Florida, Texas and California. Other analysts are concerned that many property owners will turn their units into government-subsidized rental housing and stifle the rebirth of some of America's inner cities.
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