PROPERTY OWNERS AND MANAGERS SURVEY
                      MULTI FAMILY PROPERTIES:  MAIN REASON FOR ACQUISITION OF PROPERTY
                                      TABLE 78
    
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    !                     !          !          TYPE OF MULTI FAMILY PROPERTY                   !
    !                     !          !__________________________________________________________!
    !                     !  TOTAL   !         !        !        !         !          ! 50 OR   !
    !                     ! UNITED   !         ! 3 TO 4 ! 5 TO 9 ! 10 TO 19! 20 TO 49 ! MORE    !
    !                     ! STATES   ! 2 UNITS ! UNITS  ! UNITS  !  UNITS  !  UNITS   ! UNITS   !
    !___________________________________________________________________________________________!
    !TOTAL UNITED STATES  ! 20584822 ! 3084750 !2471070 !1894445 ! 1467786 !  2223786 ! 9442986 !
    !___________________________________________________________________________________________!
    !MAIN REASON FOR      !          !         !        !        !         !          !         !
    !ACQUISITION OF       !          !         !        !        !         !          !         !
    !PROPERTY             !          !         !        !        !         !          !         !
    !_____________________!          !         !        !        !         !          !         !
    !ACQUIRED (NOT BY     ! 20027344 ! 2890022 !2312666 !1815033 ! 1436496 !  2175792 ! 9397335 !
    !INHERITANCE OR GIFT)*!          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! AS RESIDENCE        !  1445118 !  906402 ! 390180 !  81830 !   28563 !    17249 !   20894 !
    !___________________________________________________________________________________________!
    ! TO PROVIDE AFFORD-  !  1569572 !   29385 !  45446 !  68923 !   90911 !   198619 ! 1136288 !
    ! ABLE HOUSING        !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! FOR INCOME FROM     !  5609360 !  785822 ! 668163 ! 599012 !  436395 !   722134 ! 2397834 !
    ! RENTS               !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! FOR LONG-TERM       !  2307473 !  212416 ! 222381 ! 259654 !  203685 !   206014 ! 1203323 !
    ! CAPITAL GAINS       !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! TO CONVERT TO NON-  !    20468 !    8108 !   5832 !   3105 !       0 !        0 !    3423 !
    ! RESIDENTIAL USE     !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! TO CONVERT TO       !    14310 !    3393 !      0 !      0 !       0 !        0 !   10917 !
    ! RESIDENTIAL USE     !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! AS TAX SHELTER      !   517765 !   68672 !  44482 !  40260 !   44074 !    92258 !  228019 !
    !___________________________________________________________________________________________!
    ! AS RETIREMENT       !  1091368 !  229760 ! 314303 ! 205793 !  110417 !   149071 !   82024 !
    ! SECURITY            !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! AS FUTURE SECURITY  !   474189 !   37272 ! 142308 !  89720 !   45295 !    62248 !   97346 !
    ! FOR FAMILY          !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! OTHER REASON        !  1178655 !  202282 ! 123733 ! 105703 !   78347 !   133060 !  535530 !
    !___________________________________________________________________________________________!
    ! NOT REPORTED*       !  5799066 !  406510 ! 355838 ! 361033 !  398809 !   595139 ! 3681737 !
    !___________________________________________________________________________________________!
    !ACQUIRED BY          !   557478 !  194726 ! 158405 !  79412 !   31290 !    47994 !   45651 !
    !INHERITANCE OR GIFT  !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    
     *NOTE: Includes not reported on how property acquired