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Apartments Hotter than Houses?

SAN ANTONIO (San Antonio Express-News) – In light of recent housing market woes, many leaders in the real estate industry are looking to apartments and rental properties as the new hot market.

Falling home prices, increases in foreclosures and anemic job growth are weighing down the home market and seem to be the driving force behind this national trend, Zillow Chief Economist Stan Humphries said at last week’s meeting of the National Association of Real Estate Editors in San Antonio.

However, Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, said U.S. housing numbers and reports often do nothing more than cause potential homebuyers in healthier markets to panic.

“They’re not helping people make good decisions,” Dotzour said. “It’s kind of a hindrance.”

Dotzour said good properties in stronger markets continue to hold their value.

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