One part of the residential real estate market isn’t shedding tears in its beer: apartments. The Tampa Bay area is on a pace to be the 13th-hottest U.S. market for rents over the next year.
Boston’s Property and Portfolio Research predicts rents will rise 7.3 percent, faster than anemic single-family housing values. Why? Condo conversions constricted supply. Renters might have better luck leasing a house. With thousands of unsold investment homes on the market, owners are, how shall we say it, motivated.