The pandemic is remaking the business case for a number of real estate sectors, including suburban multifamily. Simply put, during a time when a contagious, sometimes-deadly virus is circulating, people want as much space as possible and the suburbs provide that.
But it is just as likely that demographics are playing a role as well in this trend.
For a decade now, developers have been building urban apartments to meet demand from boomers and millennials, who wanted to live closer to the action. Those companies achieved strong rent growth.
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