Slowing construction will likely keep multifamily supply and demand in balance for some time despite fears of a recession, according to some analysts.
Tag Archives: via bookmarklet
Added by PressForward
As American renters continue to reel from rising housing costs, Wall Street investors are betting that housing will get even pricier relative to the costs of other goods and services.
Amidst demographic shifts and lingering pandemic-impacts on the population and broader economy, the U.S. faces a pressing need to build 4.3 million new apartments by 2035, according to a new study commissioned by the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC).
About 13,600 units were absorbed in 2021, even though just 4,250 rentals were completed, the Chicago Business Journal reported, citing Marcus & Millichap’s latest Chicago Multifamily Market Report.
Bidding wars have long been a staple of boiling real estate markets, where buyers compete with offers above the seller’s listing price. Today, these contests are becoming more common in the rental market.
Millennials could be the next wave of real estate investment property owners. According to a recent report from Harris Interactive, 55 percent of millennials said they were interested in real estate investing.