Multi-Housing News: January 2009 Market Pulse
January 2009 Market Pulse
Published: January 02, 2009
CPI vs. Rent: Preliminary numbers show that the overall Consumer Price Index is still dropping fairly significantly, at 3.6 percent. But rents are dropping much more slowly—just 1 percent. That would suggest that the current economic situation is less onerous for owners and managers of rentals—for the moment, at least. And if starts stay low in the near term, as it seems they will, buildings should remain fairly full, and rents should stay stable.
Building Materials: Preliminary numbers for both softwood and plywood are continuing a downward trend, with last month's softwood number being revised significantly lower—the negative 4.1 percent preliminary figure reported last issue is now final at a negative 7.5 percent. And this month's preliminary number shows a drop of 2.6 percent beyond that. Cement prices continue to go up and down by small amounts, and gypsum prices are trending upward, with five of the last six months showing rises.
To comment, contact Keat Foong at keat.foong@nielsen.com.
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