The multifamily housing industry is facing headwinds such as rising insurance costs, with average premiums up 30% but significantly more in some markets. Taxes are always a pressure, too.
Kelli Carhart, Managing Director, Head of US Multifamily Capital, CBRE, talked about that, and the sector's past, present, and future during a recent CBRE news video.
"There's more focus on operations given that rent is moderating," she said. "We'll see record supply in 2023 and 2024 – but there's a 44% decline in starts compared to the peak in 2022 and that will only continue to decline given the lack of construction debt that is available today."
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