Rising inflation — now at its highest annual rate in three decades — has only added fuel to the multifamily fire, with rents skyrocketing across the nation in 2021. For developers and owners, this has led to a race of sorts between market forces largely out of their control: rising rents versus rising costs.
Heading into 2022, the longevity of rental increases is no certain thing, while the cost of labor, materials, taxes and insurance represent a suite of wild cards for the industry. But for now, rents are outrunning costs, as owners continue to enjoy expanding revenue and profits, industry experts tell Bisnow. ..
RSK: As cost increase and demand so do rents. But even with the higher rents, payment defaults have not accelerated which is a good sign.
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- - Volume: 9 - WEEK: 53 Date: 12/27/2021 6:29:58 PM -