Uncertainty surrounds affordable housing development due to both market conditions and government transition.
Affordable multifamily housing completions should peak at 78,000 this year as construction starts have fallen due to rising costs, increasing insurance premiums and labor shortages. This could mean deliveries will be declining at a time when demand is growing, according to Yardi Matrix’s new affordable database.
The United States faces a shortage of affordable housing units estimated at more than 7 million units.
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