Lower housing starts could exacerbate housing affordability issues, and while much of the US multifamily market is cooling due to to increased supply, midwestern multifamily markets are showing solid performance above national averages.
Sources cited in this episode:
The United States Census Bureau: "New Residential Construction, May 2024" - https://www.census.gov/construction/nrc/current/index.html
The Wall Street Journal: “Rent Hikes Loom, Posing Threat to Inflation Fight” - https://www.wsj.com/real-estate/rent-hikes-loom-posing-threat-to-inflation-fight-e6797e39
RealPage: “Most U.S. Apartment Markets Recording Occupancy Improvement” - https://www.realpage.com/analytics/strong-occupancy-growth-in-april-may/
Bisnow: “'The Darling Of The Party': Investors Flock To Midwestern Multifamily As They Flee Struggling Asset Classes” - https://www.bisnow.com/chicago/news/multifamily/the-darling-of-the-party-investors-flocking-to-midwestern-multifamily-as-they-flee-struggling-asset-classes-124744
Yardi Matrix: National Multifamily Report, Summer 2024 - Multifamily’s Second-Half Balancing Act” - https://www.yardimatrix.com/publications/download/File/5778-MatrixMultifamilyNationalReport-Summer2024
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