Two parallel trends have pushed down the fortunes of older multifamily properties in Houston just as they’re increasing at newer, more highly amenitized developments. But the reason isn’t the oft-cited flight to quality driving Houstonians to relentlessly trade up, analysts told Bisnow. Instead it is the result of newcomers and frustrated would-be homebuyers flocking to luxury apartments as interest rates soar, while on the other end of the spectrum, Class-B, C and D renters are getting priced out of their homes, forcing them to double up or move in with family. 
According to a just-released economic snapshot from the Greater Houston Partnership, Class-A apartments are on an upward trajectory with occupancy hitting new highs in October and absorption reaching 13,100 units, “as many as Houston absorbs across all classes in a typical year.”But, per the same report, Class-B and below apartments…  Read the full story here. | 
