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RED SKIES IN MULTIFAMILY MORNING?

Atlanta
RED SKIES IN MULTIFAMILY MORNING?
3RD Annual atlanta capital markets summit westin buckhead 2012 andrew trotter centennial holding apartment atlanta multifamily rent growth jobs sustainable
If you weren't one of the  320 CRE pros who joined us this morning at the Westin Buckhead for our 3rd Annual Atlanta Capital Markets Summit, you missed a  startling nugget  dropped by Centennial Holding?s  Andrew Trotter: Apartment owners in the metro area, on average, enjoyed 4.5% rent growth last year—and strong rental rate growth for the past three years. All without job growth. Andrew says that was ?unprecedented? and ?has absolutely nothing to do with the growth in the economy.? The destruction of Atlanta's housing market has turned many people into renters. But Andrew warns that rent growth due to a housing shift is  not sustainable. ?Over the next two to three years, it will be incumbent on us and the economy to start growing? to justify continued rent growth.