Other high-growth cities include San Francisco, Dallas Fort-Worth, Greenville, Jacksonville, Las Vegas, Minneapolis-St. Paul, Tampa-St. Petersburg and Tucson.
While upper-level apartments are still challenged as their residents are more likely to be working remotely and more supply is being delivered, Class B and C apartments are poised for a recovery.
By purchasing the bonds, Harbor is investing in underlying mortgage loans on housing that is affordable to the majority of low- to middle-income households.