Apartment developer says area will be slow ‘in the near term’ (Houston Chronicle)

Photo Courtesy of Houston Chronicle

Photo Courtesy of Houston Chronicle

By Nancy Sarnoff

Houston-based apartment developer and owner Camden Property Trust ranks Houston last among the multifamily markets it operates in, a result of low oil prices, the slowing economy and abundant new supply of rental units coming onto the market.

“While we expect Houston to be our slowest market in the near term, the market will hold up better than people expect,” CEO Ric Campo said Friday during a conference call with investors to discuss fourth-quarter earnings.

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