The multifamily housing industry is facing headwinds such as rising insurance costs, with average premiums up 30% but significantly more in some markets. Taxes are always a pressure, too.
Kelli Carhart, Managing Director, Head of US Multifamily Capital, CBRE, talked about that, and the sector's past, present, and future during a recent CBRE news video.
"There's more focus on operations given that rent is moderating," she said. "We'll see record supply in 2023 and 2024 – but there's a 44% decline in starts compared to the peak in 2022 and that will only continue to decline given the lack of construction debt that is available today."
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.
