Can Investing in Multifamily Housing Help Beat the Affordable Housing Crisis?
It’s an opportune time to act on the affordable housing crisis. The financial markets are in turmoil because of the Coronavirus pandemic and oil price war, but multifamily real estate remains a relatively stable investment with a solid return. Affordable housing is not low-income housing but quality housing for median income earning Americans. Affordable housing is one of the country’s biggest problems and your stable investment can serve as a way to do good.
Investment in multifamily workforce housing can play a powerful role in slowing the growing shortage of affordable housing throughout the country. Depending on new construction to generate a solution won’t work because of soaring construction costs. And with timelines longer than 24 months, it takes too long for units to become available. In contrast, investing in Class B and C multifamily properties and renovating them in a value-add program has a shorter timeline, keeps units available for rent while renovations are on-going, and brings benefits to both workforce families and investors.
Read more via this Forbes published article.