Multifamily Report Confirms Downtown Overbuilt

No surprises here but good data to help in evaluating the market. Given that developers are continuing to build I’d say multifamily will be overbuilt for a while. Keeping in mind that if the ground price on a project is low enough and the focus on long term ownership some of these projects might make sense. For me I will be looking for those that paid too much and are upside down and need a buyout. That’s where the opportunity in the coming years will be:

https://www.timesfreepress.com/news/business/aroundregion/story/2019/feb/17/report-shows-downtown-chattanoogapartment-lea/488707/

 

Need for More Industrial – “The industrial vacancy rate in Chattanooga was only 3.6 percent”

Industrial is not something I usually track but this article struck me for the strong position that the local industrial market is in:

https://www.timesfreepress.com/news/business/aroundregion/story/2019/feb/10/local-leaders-back-more-public-industrial-par/488250/

A market this tight bodes well for the coming year and doesn’t seem to indicate any pullback or market slowing. Another good sign.