Apartment Real Estate Investment Trusts are expecting solid revenues for the rest of the year due to higher house prices and general financing difficulties.
According to market professionals, unit vacancies are maintaining at all-time lows which has allowed landlords to raise prices. According to Michael Newman, chief executive of InterRent Real Estate Investment Trust, "we've been in this business for 10 years and we have never seen as few vacancies as we are seeing now". "A lot of it does have to do with affordability of housing and people just not feeling comfortable making an investment when the economy seems to be somewhat unbalanced."
Source: Canadian Press
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