Jay Parsons, Principal and Head of Investment Strategy at Madera Residential
The Walker Webcast
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The St. Paul Rent Cap: Unintended Consequences
This chapter examines the impact of a recently passed 3% rent cap initiative in St. Paul, highlighting its adverse effects on construction and rental development in the city. It discusses the concept of 'filtering' in the housing market, illustrating how luxury apartment growth influences lower-tier rents, and explores the bifurcation of affordability among renters. The conversation also addresses the broader dynamics of income growth relative to rental costs and the ongoing challenges of affordable housing.
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