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WhyMultifamily Is in a Good Spot
LABOR AND MATERIALS ISSUES WILL DELAY AND LIMIT NEW CONSTRUCTION, KEEPING BOTH RENTS AND HOME PRICES STRONG.
by Kyle Jones
he markets for apartment rentals and home and condo purchases usually move in opposite direc- tions. A strong housing market is generally accompa- nied by soft rental markets and vice versa. However, as the real estate market recovered and housing demand steadily increased over the past decade since the financial crisis, the housing market saw significant price growth. T
And, importantly, instead of trending in the opposite direction, demand for rental real estate kept pace —buck- ing conventional wisdom. This parallel path between home and rental growth continued during the pandemic as the desire for more mobile working, learning, and living space grew out of lockdowns, social distancing, and work- and learn-from-
38 | think realty magazine :: march – april 2022
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