For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Multifamily a Bright Spot in the U.S. Housing Market
The U.S. had another lukewarm year of housing recovery in 2013, according to the annual report by the Harvard University Joint Center for Housing Studies. Essentially, a combination of rising interest rates, low inventories of for-sale homes, reluctance of millennials to leave their parents homes, slow job growth, and other factors is contributing to the subdued housing market.
Of course, this has led to an increase in demand for multifamily, causing a spike in development activity.