The National Multi Housing Council is pleased to present our 2007 Annual Report. This report examines the foreclosure crisis and the misguided "homeownership at any cost" housing policy that led to it. It makes the case that housing a nation as diverse as ours requires a more balanced housing policy that leads to a vibrant rental market along with a functioning ownership market.
It also explores the future of apartment demand. Even before the housing meltdown, apartment demand was rising. In fact, over a million households joined the ranks of renters in the last two years, and the number of renters nationwide is projected to increase by 4.3 million households over the next decade.
The wave of young adults, known as the echo boomers, entering the housing market will account for much of this new demand. In fact, all of the increase in renter demand in 2015 will come from those who were under 25 in 2005. Our report explores how this youth demographic will likely change what we build, where we build and how we manage our properties.
Finally, it includes an economic review and outlook, a summary of our major legislative and regulatory accomplishments for the year, information on new NMHC guidance documents and benchmarking surveys, and a 2008 meetings calendar.
Go to http://www.nmhc.org/Content/ServeFile.cfm?FileID=6174 to download a PDF of the 2007 NMHC Annual Report.
For more information on the Council and the services available to our members, visit www.nmhc.org.
We look forward to serving you this year, and we welcome your input into our activities at any time.