REIA 165 Jonathan O’Kane: The Economics of Mom-and Pop Housing

We'd love to hear from you. What are your thoughts and questions?Jonathan O'Kane is Vice President and Head of Research at Chandan Economics. At Chandan, he blends data with storytelling, bringing forward unique coverage of all things related to mom-and-pop rental housing.Main Points:Mom-and-Pop operations proved significantly more sensitive to the pandemic than professional managersAs of March 2022, rent collections in independent operated rentals has recovered back to pre-pandemic levelsRenters moving to more affordable metros is a double-edged sword, potentially exporting affordability concerns to new parts of the countryDespite rapid institutionalization, the single-family rental sector remains dominated by mom-and-pop operatorsNew multifamily debt has far outpaced new multifamily supply since the end of the Great Finical Crisis. In a rising interest rate environment, small operators could run into trouble if rent-rolls are unable to adjust quickly enough to rising debt servicing costsThe role of cities is evolving, though they have many times throughout history. Gateway markets may continue to struggle over the medium term, though we should bet on their long-term resiliencyConnect with Jonathan:www.linkedin.com/in/jonathanokane/http://chandan.com/[email protected]