Rent growth trends continue to moderate from last year's historic peak, and many of the top markets of last year have seen much lower rent growth due to the influx of apartments. Strong GDP numbers and a healthy job market, however, support continued housing demand and economic stability despite the elevated interest rate environment.
Sources discussed in this episode:
CoreLogic: “US Home Price Insights – August 2023” - https://www.corelogic.com/intelligence/us-home-price-insights-august-2023/
The White House: “Biden-Harris Administration Announces Actions to Lower Housing Costs and Boost Supply” - https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/27/biden-harris-administration-announces-actions-to-lower-housing-costs-and-boost-supply/
GlobeSt: “Converting Office & Retail to Affordable Housing May Soon Be Easier” - https://www.globest.com/2023/07/28/converting-office-retail-to-affordable-housing-may-soon-be-easier/
RealPage: “Stellar 2Q Apartment Demand in Key Markets” - https://www.realpage.com/analytics/markets-solid-2nd-quarter-demand/
RealPage: “Multifamily Development is Definitely Slowing” - https://www.realpage.com/analytics/multifamily-permits-declining-june-2023/
Berkadia: “2023 Mid-Year National Report” - https://base.berkadia.com/wp-content/uploads/2023/07/Berkadia-Midyear-2023-Multifamily-Report-National-1.pdf
JLL: “JLL unveils first GPT model for commercial real estate” - https://www.us.jll.com/en/newsroom/jll-unveils-first-gpt-model-for-commercial-real-estate
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DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
