
For multi-family properties, this recession has proven to be far worse than the 1990 - 1991 or 2001-2003 recessions.

This trend is expected to reverse and the rental market is forecast to tighten since little apartment construction is in the pipeline. Multifamily starts in March fell 42 percent when compared to February 2009 and 55 percent compared year-on-year. [Multi-Housing News]
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