The market is following the demand!
With the ever increasing numbers of renters and booming rents the following headline had to be expected.
Housing Starts, Permits Smash Expectations On Surge In Rental Construction
“…almost the entire surge was led by an almost 40% spike in multi-family units as the ‘rental nation’ grows ever stronger.”
Check out the full article here.
Will they overbuild this time? If they do, will rents stop soaring, level off or perhaps drop? Time will tell.
Homeowner-ship is a thing of the past. Less and less people will be home owners. As the government provides more an more, soon housing will be provided to everyone that wants it.
People are becoming more and more dependent on the government for income, food, transportation, schooling, and many are on assistance for housing. Be ready.