Demand for new homes and single-family rentals should remain strong even in a mild recession

Rental markets saw booming demand as people migrated and the economy recovered from COVID lows. But now, certain markets are facing high apartment supply, recent rent increases have made apartments less affordable and the consumer is less flush. Josh Dennerlein discusses apartment risks in the Sunbelt, why the single family rental market is generally more attractive than multi-family and why New York City rents are so strong. Housing analyst Rafe Jadrosich doesn't expect the millennial housing tailwind to become a headwind until the end of the decade. For now, demand is strong, the outlook for housing starts compelling and consumers and builders are both benefitting from what have been declining raw materials costs.

 

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