Housing "Starts" Begin Declining

A recent decline in U.S. housing starts reveals a 9.4% drop in multifamily projects, raising questions about urban affordability. Meanwhile, single-family home construction sees a modest increase. The podcast delves into how oversupply in multifamily housing impacts rental prices and occupancy. Economic implications of high mortgage rates also take center stage. Insights from a senior economist reveal a 'lock-in effect' among homeowners, complicating inventory and shaping the current housing market.