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re: Apartment Complexes Being Constructed Along Burbank
Posted on 7/24/15 at 11:39 am to saint amant steve
Posted on 7/24/15 at 11:39 am to saint amant steve
quote:
Plus, most of them are borderline "luxury" apartments. So how the hell can so many college students afford $500+ in rent?
I'm "in the industry" so to say and this is the aspect that gets me. I know every apartment complex in Baton Rouge and I know roughly what the rent for and roughly what occupancy is. I am absolutely amazed that these out of state developers/owners think that this market can support the continued saturation of quasi luxury apartments. Even substandard market intelligence would tell them occupancy rates of 85% for that market is about standard. There are more in the works too.
1
Posted on 7/24/15 at 2:27 pm to go_tigres
quote:
I am absolutely amazed that these out of state developers/owners think that this market can support the continued saturation of quasi luxury apartments.
I think you are giving them too much credit. I also wonder how much REITs have to do with this (future) mess.
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