BiggerPockets Real Estate Podcast - Fannie Mae: Multifamily Is STILL Undersupplied, Rent Growth Incoming

On a national level, Fannie Mae is predicting the multifamily market to remain subdued in 2024. Ever since interest rates began to rise, multifamily transactions have slowed considerably. And, with a massive lag in multifamily construction, new units were popping up left and right in already saturated markets, creating a race to the bottom for rent prices as multifamily operators struggled to keep their units occupied. But, the multifamily woes may be close to over. Kim Betancourt, Vice President of Multifamily Economics and Strategic Research at Fannie Mae, joins us to share the findings of a recent multifamily report. Kim knows that there are oversupplied multifamily markets across the country. Cities like Austin have become the poster child for what oversupply can do to home and rent prices. However, Kim argues that this is only a fraction of the overall housing market, and many markets are in need of more multifamily housing. So, if much of America is still struggling with having enough housing supply, shouldn’t rents be on an upward trend? Kim shares her team's findings and rent forecasts, explaining when rents could begin to climb, which multifamily properties will experience the most demand, and why we need MORE multifamily housing, not less. ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Want More Up-to-Date Housing Market News? Check Out the “On the Market” Podcast: https://link.chtbl.com/OTM ~~~~ Multifamily Is at High Risk of Continuing Its Historic Crash in 2024—Here’s Why: https://www.biggerpockets.com/blog/multifamily-crash-to-continue-through-2024?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ These 10 Markets Are Building the Most Multifamily Housing—How Can Investors Take Advantage? https://www.biggerpockets.com/blog/housing-markets-building-the-most-multifamily-housing?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Fannie Mae’s Insights and Reports: All Research: https://www.fanniemae.com/research-and-insights January 2024 Multifamily Market Commentary: https://www.fanniemae.com/media/document/pdf/mf-market-commentary-012024 February 2024 Multifamily Market Commentary: https://www.fanniemae.com/media/document/pdf/mf-market-commentary-022024 February 2024 Economic and Housing Forecast: https://www.fanniemae.com/newsroom/fannie-mae-news/housing-activity-expected-pick-2024-rates-move-lower ~~~~ Connect with Dave and Henry on BiggerPockets: Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Henry: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Dave and Henry on Instagram: Dave: @thedatadeli or https://www.instagram.com/thedatadeli/ Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/ Show notes at: https://link.chtbl.com/BPRE 00:00 Intro 02:02 Multifamily Rents Go Negative 05:20 1M More Units Incoming 10:37 Renters Are Stuck 16:20 Fannie Mae's 2024/2025 Rent Forecast 19:02 Affordability Still Struggles 22:02 We Need MORE Multifamily? 23:59 Multifamily Values Could Jump