At least one group of housing-industry entrepreneurs are feeling a bit of relief in this dismal economy: the owners and managers of apartment buildings in Chicago and the rest of the country.
According to a new survey from Rent.com, a growing number of apartment property managers and owners are seeing lower vacancy rates in their buildings this year when compared to 2010.
Of course, the news isn’t entirely good: According to the survey, 42 percent of owners and managers are reporting lower vacancies this year than last. That means that 58 percent aren’t.
Still, in today’s housing market you take whatever good news you can find.
It’s also a bit strange that also qualifying as good news is the fact that 70 percent of managers and owners cited job losses as a major reason for the vacancies in their buildings. That doesn’t sound like good news, I know. But when you consider that last year 90 percent of owners and managers said the same thing, it actually is.