Quarterly with NMHC: New Supply Has Hit. Now What?

In certain markets across the nation, rental rates have been hurt due to a strong wave of supply deliveries. And yet, the U.S. still faces a severe housing shortage partnered with affordability issues. In this episode of Quarterly with NMHC, Caitlin Sugrue Walter, vice president of research, and Bernard Fulton, vice president for housing policy and regulation, join Multi-Housing News Senior Associate Editor Jordana Rothberg to talk about just that. Caitlin Sugrue Walter’s primary role with NMHC is to conduct research on multifamily trends for the company. Her areas of expertise include apartment market trends, multifamily supply and specialty apartment research topics. Bernard Fulton brings more than 30 years of experience in and around Congress as a policy advisor, legislative analyst, lobbyist, strategist and political organizer. He is well versed in housing affordability, housing supply, finance and capital markets, GSEs and housing finance reform. Tune in to listen in on the implications of this new multifamily stock as well as what policy makers and those in the industry can do to keep the needle moving. You’ll hear: ·      Where new multifamily stock came online and why (1:30) ·      Why so many units hit the market at relatively the same time (3:30)   ·      How long until high-supply markets begin to absorb the excess (4:50) ·      Where multifamily development stands in the future (6:40) ·      Specific policy solutions to mitigate the impediments facing multifamily (10:30) ·      Short term solutions that would make a difference (13:05) ·      How taxes could ease or hurt multifamily cost challenges (14:15) ·      State-wide policies that Fulton hopes don’t move forward (15:40) ·      Sugrue Walter’s thoughts on rent growth sentiment and rent control (17:10) ·      Government programs and vouchers that can help residents find housing (18:05)   Recorded October 2, 2024