About the only thing I call myself an expert in these days is Mortgage Banking but when I see investors willing to lay out $55 Million to build luxury apartments in Raleigh, well that tells me they think that there is a real opportunity to recoup that investment with a tidy profit to boot!
Triangle Business Journal – by Amanda Jones Hoyle
Post Properties Inc. of Atlanta is shaking out the cobwebs on its plans to build a $55 million luxury apartment complex across from the RBC Center in Raleigh and announced plans on June 1 that construction will begin by the fourth quarter.
Rising rent is another factor pulling some potential homeowners off the fence. During the housing boom, landlords lowered rents to hold on to tenants who were leaving apartments to become homeowners. Now that trend has reversed, sending rent levels soaring. – WSJ – 8/02/2011
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