All multifamily spreads (Class A/B, Tier I/II, stabilized/value-add/development) compressing...pic.twitter.com/VO3irUPqJx
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Cap rate compression in secondary markets —> rapid price appreciationpic.twitter.com/7gaUEyTo1w
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Generally, how do tier 2/3 markets fate in downturns vs tier 1. "Flight to quality" like in stocks. P.s. get a photo
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Tier II/III markets are definitely more challenged in a downturn. Usually smaller cities with less diversified economic bases, so less able to withstand the pain. Lots of sunbelt metros that have seen high growth but have potential for bust as well.
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Good point about the industry concentrations. It helps to have a diversified economy where you're holding. What about diversified tier 3? Texas did fine in last crash. Florida did not but has a less diverse economy. Pittsburgh & Jacksonville I think are diversified. Nashville?
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