ConstructionDive follows up on the Wall Street Journal article featuring my take and regarding the peak of the multifamily investment market and discusses the key takeaways from my small portion in the WSJ article. It is yet more coverage moving the conversation away from the irrational exuberance and cheer-leading and moving back toward fundamentals. Worth the read (here).
National Association of Realtors also follows, with a key quote.
But the increase in supply of multifamily units is prompting some landlords to start offering concessions to entice renters. For example, landlords with Urban Igloo, a rental real estate brokerage based in Washington, D.C., are reportedly offering several enticements to renters, from a couple of months free rent and free parking to Uber gift certificates.
“Eventually [landlords] have to drop rents to be competitive,” says Patrick Sprouse, director of sales at Urban Igloo.
Also worth the read (here).