Continued updates on housing starts and permits shows multifamily construction starts down sharply even as single family construction continues to grow. The seasonal cooldown in rent growth is less pronounced than last year but remains a challenge for owners and operators continuing to deal with high expenses and the pressure of persistent high interest rates. At the same time, positive economic signals, continued investor confidence in the multifamily sector, and improving balance of apartment supply and demand point to strong longer-term prospects for multifamily investments.

Link to sources discussed in this episode:

Fortune: “The red-hot economy is growing even faster than we thought, with GDP surging 5.2% last quarter” - https://fortune.com/2023/11/29/u-s-economy-gdp-revision-5-2/

CNBC: "Black Friday weekend shopping turnout soars to a record, as consumers seek bargains" - https://www.cnbc.com/2023/11/28/black-friday-weekend-shopping-turnout-soars-to-a-record.html

RealPage: “Census is Likely Overstating Multifamily Starts in 2023” - https://www.realpage.com/analytics/us-census-starts-probably-overstated/

Axios: “Home vacancies near all-time lows as housing shortage bites” - https://www.axios.com/2023/11/21/housing-shortage-vacancies

Colliers: “Capital Markets U.S. Snapshot | 2023 Q3” - https://www.colliers.com/en/research/capital-markets-us-snapshot-q3-2023

Apartment List: “National Rent Report, November 2023” - https://www.apartmentlist.com/research/national-rent-data

For the latest multifamily news from across the internet, visit the Gray Report website: ⁠https://www.grayreport.com/⁠

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DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest.

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