The Walker Webcast Ivy Zelman, Executive Vice President and Co-Founder of Zelman & Associates
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Jul 11, 2024 
Ivy Zelman of Zelman & Associates discusses rising home prices, multifamily inventory outlook, rate cuts, housing supply constraints, affordable housing crisis, and overallocation of capital in multifamily sector with Willy in a dynamic conversation about the future of housing market.
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Housing Market Slowdown
- The housing market is experiencing a slow grind, with new construction facing challenges in sustaining sales pace.
- Affordability concerns are rising, and more incentives are appearing in the market.
Affordability Challenges
- Home affordability is currently 20% above trend, making it challenging for prospective buyers.
- Over 80% of homeowners with mortgages are locked in below 5%, creating a disincentive to move.
SFR vs. Ownership Costs
- Last year's data showed a 9% difference between single-family rental (SFR) and new-build home ownership costs.
- This disparity makes SFR more appealing in the current market.