![]() ![]() Thankfully, there are various initiatives (local, state and federal) already in motion. Simply put, the amount of people that can neither afford to purchase or rent a home seems to increase each day. According to December 2021 Yardi Matrix, there was a 13.5% increase in multifamily rents year over year. This eye-opening supply and demand dilemma, coupled with record low interest rates, has resulted in a substantial increase in residential home prices.Īdditionally, we are experiencing record increases in multifamily rent growth. There is no doubt that there is a critical housing shortage in this country, especially in the affordable housing segment of the housing market.Įarlier this year, the National Association of Realtors estimated the shortage to be approximately 6.8 million homes.
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