Rent inflation went wild in 2021 and 2022, turning it into one of the most substantial drivers of overall inflation. But good news: it seems pretty clear that rents are now finally falling. Private sector measures, from companies like Apartment List and Zillow are starting to show a clear decline. So what's changed? How hard could rents drop? And could a renter in a place like New York City actually get a rent reduction? On this episode of Odd Lots, we speak with Chris Salviati, the top housing economist at Apartment List, to discuss what's changed and what 2023 has in store.See omnystudio.com/listener for privacy information.

Rent prices peaked in 2022 but began to fall as vacancies rose. A tidal wave of multifamily inventory is about to come online, forcing investors to compete with luxurious options. Will oversupply affect single-family rentals or push renters towards more affordable options? Chris Salviati shares insights and predictions in this episode.