From getting back on track at the end of 2020 to strong growth in 2021, according to the National Multifamily Housing Council, the ability to raise rents has been on a recent tear in multifamily.
But how long can that keep going?
Several factors have supported the rise. One is historically high costs of buying homes, in large part due to low inventory during the pandemic and a long-term lack of sufficient house construction. Even low interest rates can only do so much when necessary down payments skyrocket. Many people have no choice but to rent.
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