For the past five years the apartment industry has been on an unprecedented run of success culminating with a spectacular 2015. Rents continued a run of spectacular growth around the country, transactions levels hit highs not seen since the Great Recession, and construction starts hit pre-recession highs.
But after a long run of success, smart owners, managers, and builders are beginning to wonder how long this run will last. While no one thinks the music stops in 2015, developers, managers, and owners are all preparing themselves for more moderate levels of growth. Find out their plans and projections for the year ahead in Multifamily Executive's 2016 preview.
Over the past two years, TruAmerica CEO Bob Hart's went on an apartment buying spree. While 2016 looks to be another good year, Hart and some other executives do see some warning signs into the future.
Industry professionals, including Steve Patterson, president of Related Group’s Multifamily Division, are confident the demand for new rental units will continue to grow in 2016. But how long this trend will continue is the question on everyone's mind.
Executives like ConAm's EVP of property management Julie Brawn-Whitesides believe rents will still experience strong growth this year, but not to the same extent they have in previous years. Is this the start of the slow down?