81: America is Screaming for Affordable Housing, But No One Wants to Build w/Lu Chen and Thomas LaSalvia
On The Market
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Rents Are Still Stable Right Now, Reverend
Rent declines in the 2008 era, not nearly as much as home price declines. We saw vacancy rates increase well above 5, 6, 7%. I think we topped out around 8% in the multifamily perspective. And so you have to loosen the market again before you get dramatic rent declines. If you did put the long run averages, there might be a little bit of a hiccup this year here or there. But overall, that's where we're trending back to going forward.
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