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REFI Multi-Housing Three Key Trends

In this talk by John L. Glascock, PhD, from the University of Connecticut, we explore three key trends affecting multi-family housing. 1. The slow recovery of single-family housing is pushing demand for apartments. 2. Job market uncertainties continue to limit market recovery, affecting multi-family housing stability. 3. Decreasing income and wealth levels are increasing reliance on multi-family living. Additionally, younger generations are delaying marriage and home ownership, leading to a rise in rental demand. These trends reveal important insights for the future of multi-family housing.

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REFI Multi-Housing Three Key Trends

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  1. REFI Multi-HousingThree Key Trends • John L. Glascock, PhD, RICs • Director, Connecticut • Center for Real Estate • University of Connecticut

  2. Some thoughts on Housing—Near and Far • 1. Single family Housing is not recovering quickly—this pushes apartments • 2. Jobs are not back yet—uncertainty pushes multi-family • 3. INCOME is really down. So is wealth! These both push multi-family • 4. The YOUNG—college grads—are marrying and buying later: this again pushes multi-family

  3. 1.a. Housing Spending is STILL DOWN! • When Housing is 40% below recent norms. • The average college educated family now is married by 30 and has their first child by 32! • MORE rentals and fewer Owner-occupied.

  4. 2. Jobs are not back federal employment is still down too! • Jobs are not fully back • High value added jobs are still declining—the jobs that are back are low income jobs

  5. 3. income has NOT come back!

  6. 3.b. and Home EQUITY—Back to 1968 Value!

  7. Young Marrying Later • Typical college grad today gets married at 30…thus ownership will come later • All of these factors favor multi-family

  8. Questions

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