Spring/Summer 1984, Vol 9, No 1

Abstract: Macroeconomic changes which are now taking place (or have already taken place) are changing the investment fundamentals of multifamily residential real estate. Consequently, the long-term outlook for owners of high-quality existing real estate is excellent, as rising demand, a shortage of new construction and changing demographics will combine to force rents upwards in real terms, after adjusting for inflation. Although virtually all types of residential real estate should benefit, energy-efficient multifamily apartment complexes, especially those dominated by one-and two-bedroom units, should perform best.