2024 Multifamily Prediction #4: New multifamily development will come to a standstill.
Origin Co-CEO David Scherer predicts a slowdown in new multifamily development in 2024, even as demand increases. Real estate lending is shrinking to historically low levels, threatening a rise in defaults on expiring debt and spurring a sharp decline in new construction starts of apartments and other property types. Apartment starts have fallen dramatically due to higher interest rates, declining rents and oversupply. David believes new construction won’t regain momentum for 12 to 18 months.
Read David’s article to see his complete list of 10 predictions for the multifamily real estate market in 2024. https://origininvestments.com/origins...
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