NEW YORK CITY–One of the speakers at our State of the Industry panel at the GlobeSt. Spring Multifamily conference this week got our attention when he declared that much of the new supply flowing into the market is not the right size to meet the new demands of renters.
"All of this new supply in the market is going to face a challenge because it's not what people are looking for — a different type of product needs to be built to meet the new demands of the market," said Michael Broder, CEO of RCKRBX.
"Across the country, according to our renter demand data, 67% of renters in every market are looking for a larger type than they were historically. It's fundamentally upside down," he continued.
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