Apartment market conditions eroded significantly during the fourth quarter of 2008 compared with the previous three months, due to the ongoing financial market turmoil and its spillover into the broader economy, according to the National Multi Housing Council (NMHC), Washington, DC. NMHC's January 2009 Quarterly Survey of Apartment Market Conditions noted that the job losses and less-than-favorable credit-market conditions pose a severe challenge to the apartment sector. The survey's Market Tightness Index -- which measures changes in occupancy rates and/or rents -- declined sharply in the fourth quarter to 11 from 24.
Apartment market conditions deteriorate in fourth quarter Anonymous Mortgage Banking; Mar 2009; 69, 6; Docstoc pg. 89 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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