Bloomberg Businessweek ICYMI: US Housing Market Awaits Interest-Rate Clarity
Jul 23, 2025
Thomas Carroll, founder and CEO of Ballast Rock Asset Management, dives into the U.S. housing market's response to high interest rates. He reveals how multifamily technical indicators are outperforming other real estate sectors. Carroll discusses the potential for rent growth due to sustained wage increases and analyzes the current challenges in the multifamily housing landscape. He also shares insights on emerging opportunities in the Southeast, driven by new factories and a robust job market.
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Multifamily Market Awaits Clarity
- The U.S. multifamily real estate market is stalled primarily due to uncertainty around interest rates.
- Market actors wait for clarity from the Fed before they resume buying or building activities.
Owners Hold Assets Longer
- Asset holders cling to peak pricing levels from 2021, limiting market transactions.
- Income from properties allows owners to hold assets longer despite pricing pressures.
Focus on Distressed Sales
- Look for distressed sellers to find real estate deals in today's market.
- Otherwise, avoid buying as asset pricing does not currently make financial sense.