In this podcast episode, the hosts delve into the current apartment rental market, highlighting a significant drop in available units. They examine five key indicators: a decline in architect billings, developer surveys revealing unviable projects, strict bank lending practices, a fall in multifamily building permits, and new construction lagging behind completions. Together, these factors suggest a notable decrease in new apartment construction expected by 2026-2027. The discussion also touches on the recent rejection of Proposition 33 in California, a statewide rent control initiative, and the implications of the latest election on rental housing. Additionally, listeners will hear from Paul Thrift, CEO of Thompson Thrift, a successful apartment developer, who shares his insights on navigating today’s challenging market. Despite the obstacles, Thrift expresses optimism about future demand and the potential for recovery.
