, whose portfolio consists mostly of mid- to high-rise buildings on the East and West coasts, saw a particularly bleak third quarter. Its stock is down about 43% year to date. Occupancy and average rent rates fell and will likely drop further in the coming quarters.
"We have seen scattered positive signs in the form of modestly improved renewals and higher application volumes," said Equity Residential's CEO, Mark Parrell, on a conference call with analysts. "I caution, however, that market conditions remain too volatile and the timing of developments on mitigating the virus too unclear to suggest that we have turned a corner."
"The adverse future impact of the pandemic on the Company's results of operations cannot be reasonably estimated, and could be material," according to AvalonBay's earnings release.
If you're not wealthy, you can only afford to pay your landlord's mortgage, not your own. That's messed up.
Good. Landlords have been too greedy for too long.
Apartments are slums
The rents are too damn expensive. What do you expect people to do take up ten roommates to help pay your mortgage? Go and ask the MutantMitch why he hates Americans.
They should get real jobs
Live by the shitty Democrat city, die by the shitty Democrat city. Isn't that the old saying?
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