In a July 31 earnings call, Camden Property Trust CEO Rick Campo was asked directly about the risk of rising rents pushing apartment renters out the door.
His tongue-in-cheek response: Camden renters “have the ability to pay higher rents and we want to give them that opportunity.”
Campo’s answer was a succinct rebuttal to the widely accepted narrative of runaway rents pushing renters to the ceiling of affordability. There’s abundant evidence that market-rate apartments, on the whole, are nowhere near an affordability crisis. And these misdirected fears are distracting attention from a distinctly separate and far more worrisome problem—the nation’s severe shortage of designated affordable housing units.
Read more...Affordability Fears: Overhyped and Misdirected - Commentary Article - GlobeSt.com
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