As the year comes to a close, housing executives look to the new year. A new analysis shows that 2018 will be a mixed bag for multifamily builders and developers.
As MFE’s Mary Salmsonsen reports, one of the biggest stories of the year will continue to be a lack of affordable housing. One in four renters in the country is severely cost-burdened, and in cities like New Orleans and Los Angeles, this share is even higher—in the two metros, about 31% of renters are severely cost-burdened. Of the 100 largest U.S. metros, only six have severely cost-burdened renter rates under 20%. This lack of affordable rentals is expected to continue into 2018, as much of the new construction is aimed at higher-income renters.