Multifamily Real Estate Update & Big "Opportunities" in These Markets

"I think we're just starting to see rent growth in the second quarter data now uh for for 2024 so we are seeing that the supply demand Market is becoming more inbalance and a little bit of rent growth is returning"

"as household formation picks up as we move over the next three five seven years you'll see new supply of that class a pull back a bit and then you'll see those Market markets come in Balance"

"we're going to see a much slower late 2025 and 2026 is going to be tremendously slower"

"we may see these rate Cuts uh this fall"

"right now our Baseline forecast is for a slow and steady continued softening of the labor market but that will be balanced somewhat by a little bit of household formations picking up uh over the next year or two"

"I'm not bearish on those except for a very short period where I think pushing forward pushing more rent growth through is is a bit tougher there"

"some of these other markets that had been forgotten for a while by investors you're starting to see some demand come back to them and I think there's going to be opportunities there over the next 5 10 years"

"we do think interest rates will come down a little bit but we're in a new interest rate regime right this is not 0% fed funds rate and 3% 30-year mortgages I think that to me is is somewhere where we're going to have to adjust to get used to this new world and that does cause a bit of a I'm going to use the word correction in in valuations across multif family"