The Role of the Multifamily Industry in the Housing Shortage Scenario
Markets throughout the country continue to be affected by housing shortages. These shortages have been caused by a combination of increased household formation during the post-recession economic expansion, and constraints that include rising construction costs, high land prices, scarcity of land, anti-development regulations and legislation, and a ‘not in my backyard’ sentiment, or NIMBYism.
Interestingly, the housing shortage has had some beneficial effects on the multifamily market. The sector has also faced new challenges along the way.
Max Sharkansky, managing partner at Trion Properties examines these issues in his latest article.
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