One executive panelist pretty much nailed it (pardon the pun) about the apartment development "oversupply" on the way for 2023 when speaking at this month's National Multifamily Housing Council's Apartment Strategies Conference.
"Unless there's an outside force to stop us, we're going to keep on building," Cortland CEO Steven DeFrancis said.
"There's no one in this conference today that if they were able to get the financing they need to develop, wouldn't be ready to run home and start it."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
