The Rent Roll with Jay Parsons EP#17 David Moore | The Re-Rise Of The Sun Belt
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Jan 16, 2025 In this engaging discussion, David Moore, Founder and CEO of Knightvest Capital, shares insights from his extensive experience acquiring over 60,000 apartment units in the Sun Belt. He explores the current rental landscape, addressing the paradox of high demand amidst elevated vacancy rates. They dive into the significant drop in new construction and its implications for future supply. David highlights hot markets poised for recovery, while Jay Parsons adds depth with economic data and trends, making a compelling case for optimism in the Sun Belt multifamily sector.
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Sunbelt Rent Challenges Tied to Supply
- High supply is impacting Sunbelt apartment rents, with some markets seeing deeper cuts than others.
- However, demand remains strong, indicating the issue is supply-driven, not a lack of interest.
Population Growth Favors Sunbelt
- Population growth continues to favor the Sunbelt, driving demand for apartments.
- All top 15 MSAs for population growth over the past five years are in the Sunbelt, and the trend is expected to continue.
Affordability Drives Sunbelt Demand
- Sunbelt apartments remain significantly more affordable than those in coastal metros.
- This affordability gap contributes to the Sunbelt's attractiveness for migration and population growth.