"There's always going to be an element of intuition required."

The affordable housing project also has 24,865 square feet of retail space.

NMHC survey shows that permitting, start delays, access to financing, and rising materials and labor costs key factors.

Lenders are willing to play - albeit at a higher rate, experts agree at ICSC Western States conference

Despite headwinds, deals will transact – but patience is key, says Bobby Khorshidi of Archway Capital

On the flip side, rent payments have fallen the most in subsidized affordable housing – where rents have grown the least.

Higher Cap Rates, Potential Supply Constraints Likely Ahead For Net Lease Sector, according to Berkeley Capital's Gary Chou

It has outperformed other asset classes from a yield perspective, and as the costs of homeownership continue to be staggeringly out of reach for many would-be buyers, demand drivers remain strong.