What’s the impact on rent?
Decline from Post-Covid Peak
- Total Units: 20.7 percent
- Single-Family: 25.2 percent
- Multi-Family: 27.3 percent
The decline puts the number of single-family units under construction near the middle of a very wide range of 236,000 on the low end and 990,000 on the high end.
However, the number of multi-family units under construction is still enormous historically speaking.
Impact on Rent
For three years, the consensus opinion (not mine) was that rent prices would collapse.
That didn’t happen although the rate of increase in the price of rent has slowed dramatically.
However, Trump sealing off the Southern border from immigration, could soon start having a positive impact (lower rents) if builders started too much immigration-based construction.
Hellbound and Down 