Researcher: The U.S. Needs 4.3 Million More Apartments

By KIMBERLEY HAAS The vice president of research at the National Multifamily Housing Council says 4.3 million new apartments will be needed by 2035 to meet demand. Caitlin Walter spoke at the National Association of Real Estate Editors conference on October 13. She is primarily responsible for conducting NMHC’s research on apartment industry trends, according to the council’s website.  Walter said there were 737,000 apartments under construction in 2021. “The issue is that it takes a long time to build an apartment community, and we’re not actually seeing those under-construction numbers turn into completions. And that is largely due to the delays that started during the pandemic that have continued to persist,” Walter said. Walter referred to a study the…

Inflation, Interest Rates Cited As Top Issues For Residential And Commercial Real Estate

By KIMBERLEY HAAS The global chair of The Counselors of Real Estate says inflation and interest rates are this year’s leading concerns of his 1,000-member organization. At the National Association of Real Estate Editors conference at The Westin Buckhead in Atlanta, GA, William McCarthy said everyone they talk to wants to know about inflation and interest rates. The Counselors of Real Estate is an international consortium of commercial property advisors which has posted a top ten list of issues affecting real estate for 11 years. “Inflation dictates interest rates. Interest rates dictate inflation,” McCarthy said. McCarthy told the crowd they have some questions about the current interest rate narrative. “Interest rates are supposed to go up a little bit more, level,…

Reality Check: COVID Deaths Will Lead To Increase In Housing Inventory

By KIMBERLEY HAAS It may be a harsh reality to face, but the data is clear: There will be more houses on the market in 2022 because of the number of people who have died due to COVID-19 and its variants. This sobering fact was highlighted during the National Association of Real Estate Editors conference in Miami, Fla., last week. As of Monday, the U.S. Centers for Disease Control and Prevention reported 793,937 COVID deaths of Americans. More of those deaths have occurred since the first vaccines became available than before. Approximately 77% of people over the age of five have had at least one vaccination, according to their website. Community transmission is high in many parts of the country…