The multifamily industry is an attractive, albeit tumultuous industry. With several years of rent growth and an improved financial environment, it seems like the perfect moment to plan future apartment deliveries and set up shop in up-and-coming-markets.
So much so that non-traditional industries are attempting to stake their claim in the multifamily world. But the increased interest will inevitably threaten to oversupply some top markets that are already seeing overproduction in the multifamily world.
“Traditional, multifamily developers might be underestimating the magnitude of the threat of new entrants, which are increasingly announcing their own multifamily development plans,” says Dave Bragg, director of research at Cleveland-based Zelman & Associates.
Read more...More Multifamily "Rookies" Mean Possible Oversupply in Some Markets - Single Family - Multifamily Executive Magazine
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