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Apartment Construction Takes a Dip in 2019


Things are slowing down in the apartment construction arena. New data on apartment construction from RENTCafe and Yardi Matrix shows activity is down slightly from last year.

It’s estimated that multifamily builders across the U.S. will add 300,000 new units to the nation’s rental stock by year’s end as opposed to 326,000 last year.

A major reason behind the slowdown is higher labor cost exacerbated by a shrinking labor force.

According to Yardi Matrix Senior Research Analyst Tara Jeffcoat, “rising construction costs and a tight labor supply certainly contribute to a flattening and decline of expected completions, but 2019 is part of a larger trend of developers gearing up for next cycle. Although completions peaked in 2017, there is a significant number of prospective properties in the pipeline.”

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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