Increase In Multifamily Housing A Boon For Ocean Development Inc

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					  Ocean Development’s development strategy is further vindicated by major jump in
                           multifamily housing starts.

             he National Association of Home Builders (NAHB) reported last week that
             housing starts are up in all regions, and multifamily housing grew at a much
             faster pace than did single-family housing. This follows a year or more of
             lagging multifamily housing starts, amidst strong demand for rental property.
The increase was also aided by continued redevelopment and investment in housing and
energy efficiency programs.

“Combined single-family and multifamily starts activity was up across all regions in
December,” stated the NAHB report. “The Northeast posted a gain of 21.4 percent, the
Midwest was up 24.7 percent, the South posted a 3.8 percent increase and the West was up
18.7 percent.”

While some experts expected the pace of multifamily housing development to taper off, real
estate and rental property developer Ocean Development Inc. and owners Kip C Cyprus
and Amy Cyprus have rightly stayed in the ever-expanding rental market. And, in
December, multifamily housing starts jumped more than 23 percent as demand for rentals
continued to increase and outpaced single-family starts, according to the HAHB.

“Overall, this report represents a solid ending to 2012 and a promising start to 2013,” said
NAHB senior economist Robert Denk. “Multifamily production is almost back to normal
levels and while single-family starts still have a way to go, they are gaining momentum.
This trend could be even stronger if not for persistently tight credit conditions for home
buyers, flawed appraisal values and uncertainties regarding economic policy debates in
Washington.”

Building in general has improved as the overall housing market is starting to come back.

“Builders have become increasingly optimistic about conditions in local housing markets in
recent months and this report underscores that the housing recovery is well on its way,”
said Barry Rutenberg, chairman of the NAHB and a home builder from Gainesville, Fla.
“With inventories of new homes at razor thin levels, builders are moving prudently to
break ground on new construction ahead of the spring buying season to meet increasing
demand.”
Compared to the 23.1 percent increase in multifamily housing starts, or 338,000 units,
single-family starts grew by a slightly lower 8.1 percent, or 616,000 homes.

Kip C Cyprus and Ocean Development remain in a strong position, with new units and new
investments being made all the time. Investors with Ocean Development can expect strong
occupancy rates and demand for rental property well into the future, with many experts
now predicting that multifamily housing markets will remain steady.

2013 is expected to be another strong year, and many experts predict continued growth
through the end of 2014. With decades of development and management experience, Ocean
Development and sister company Ocean Properties - the management wing of the company
- are set to have another great year.

				
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Description: Ocean Development’s development strategy is further vindicated by major jump in multifamily housing starts.