Multifamily fundamentals reflect supply-demand imbalance
The lack of housing across the country will continue to support the apartment market in the year ahead, according to Eddie Lorin, founder of Alliant Strategic Development.
“The demand for housing is enormous and will keep the markets strong with intense demand despite cost increases,” Lorin told IREI in an exclusive interview. He added: “We need more housing in all markets — period. Both urban and suburban markets are ripe for strong demand.”
On the development side, the impacts of the COVID-19 pandemic will be felt in the real estate sector.
“There has already been a shift to ‘healthy buildings’ and new product will be developed with more open spaces and breezeways,” said Lorin. He also noted there will be more demand for studio and one-bedroom apartments as people shift away from roommate situations.
One of the challenges preventing additional housing is both the federal and local policy environment for commercial real estate developme