Reports show that home ownership will be going down at least to 2020: this from the University of Utah. "We'll have for more renters in the future," says (Arthur C. Nelson, director of the university's Metropolitan Research Center - USA Today, Haya El Nasser (08/06/2009) It's hard to predict for that long a time period but the trends seem to point that way.

Homeownership peaked at nearly 70% in 2004 to 2005. It had declined to 67.4%, by U.S. Census Bureau numbers.

Now that sounds like a long term opportunity for investors.

I'd like to interject here first before we continue. I'm starting not to like the word, "investor" because it brings up connotation of someone who puts in a lot of time into real estate, someone who almost makes real estate investing his/her occupation, with investment clubs, non stop meeting, searching, learning and participation and this excludes many people who have other occupations and just want some real estate in their portfolio.

So when I write investor I don't just mean the full time designated investors who can claim it so for tax purposes, I'm also talking about a family that want to invest for their children's education, for the single guy who wants to built up his retirement, the executive who wants more diversity in the portfolio.

Now back to article. The opportunity exists because currently the multifamily market is over correcting, it is down so low for the income generated and the future income potential that is seems almost truly silly.

Prices are down because single family homes are popular, because it's hard to find ready to run multifamily businesses, loans are difficult to get and it takes more money to buy them. This has driven demand down and supply fairly high.

While the good stuff has been swiftly disappearing over the last few months as people catch on to the opportunity at their feet, there are still properties there and other entering the market, so the supply is quite steady, but buyers need to vigilant about buying good properties and by good properties I mean ones that are even devastated, but are in the path of growth or have hidden value: they are out there.

By buying against the grain you are getting an additional discount and it's winds will turn on your favor in just a few years pushing your returns in the right direction. It's not a fix and flip market for multifamily, but it is one for buy and hold - a strategy that has made many unexpected people wealthy and if not that, then much more comfortable financially.  I just want my readers to be aware that this situation is out there.