new construction for multi-family is having a huge fall-off right now. Chart

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Jun 21, 2024
9:52:43pm

HarlemCoug Truly Addicted User

new construction for multi-family is having a huge fall-off right now. Chart

The nosedive continues, with multifamily starts plummeting toward the lowest levels since the early 2010s, coming out of the GFC.

It's really, really, really tough to start new apartment projects right now -- pointing toward a rapidly changing supply/demand story. pic.twitter.com/Rv8SOch2W3
— Jay Parsons (@jayparsons) June 20, 2024

https://twitter.com/jayparsons/status/1803933854786359407

This message has been modified

Originally posted on Jun 21, 2024 at 9:52:43pm

Message modified by HarlemCoug on Jun 21, 2024 at 9:55:27pm

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HarlemCoug

Previous username: Big12
Bio page: HarlemCoug
Joined: Sep 8, 2014
Last login: Jun 29, 2024
Total posts: 32,870 (4,111 FO)

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Messages

Author

Time

Lumber prices the harbinger of Econ data?

Longseason

Jun 21, 9:42pm

The Home Depot by my house didn’t get the memo

Future_Tacos

Jun 21, 9:49pm

new construction for multi-family is having a huge fall-off right now. Chart

HarlemCoug

Jun 21, 9:52pm

That snippet of the screenshot makes it looks like more of a drop than it is

futbalmaven

Jun 21, 9:57pm

It looks like at least a 30% drop. That seems significant.

El Presidente

Jun 21, 10:11pm

How far above pre-covid prices?

Plato

Jun 21, 10:16pm

A 30% drop is significant, even if it is peak to trough, which this is not.

El Presidente

Jun 21, 10:32pm

About 620 to 540, that's approximately 13% and the screenshot makes it look

futbalmaven

Jun 21, 10:39pm

That would be correct unless you click on the graphic and see that it continues dropping to about 450

Greg Kite's 'stache

Jun 21, 10:44pm

May housing starts were down 5.5%. A four year low.

HuskerFan2

Jun 21, 10:11pm

Almost sounds like housing is historically unaffordable

Jun 21, 10:28pm

^^^^Millenial^^^^

YbeatsU

Jun 22, 12:49am

I think it’s very possible that new home construction could slow or stop drama

MacsKid

Jun 21, 10:28pm

very true, existing homeowners are not giving up those low mortgage rates. People will just renovate

BYU Grounds

Jun 21, 10:37pm

Like a fool, I paid off my house two years ago. Doh!

Jun 21, 11:12pm

***Humble Brag***

SafetyFirst

Jun 21, 11:24pm

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