More apartment dwellers are likely to stay put as single-family home affordability declines.
Higher home prices, longer construction times, and an expected rise in interest rates will price some prospective home buyers from the market this year despite economic growth at the highest rate since 1984 and a continued improvement in the labor market, predicted National Association of Home Builders Chief Economist Robert Dietz predicted late last week.
Rising material costs and supply shortages along with expected increases in mortgage rates are expected to keep a growing number of potentially prospective home buyers in multi-family rentals.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
