This Apartment REIT Sees More Trouble Ahead
The COVID-19 outbreak is having a disproportionate impact on certain sectors of the real estate market. For example, because more people are working from home during the pandemic, renters in high-cost urban centers are relocating to lower-cost suburban areas to save money. The REIT warned it was starting to experience some troubles in those areas during the second quarter, which became even more pronounced in the third.