Dive summary:
- Multifamily housing has been the headline act in the recovery of the housing construction industry so far, and the consensus of members of a panel at the International Builders' Show was that it will hold that role for a while.
- The National Association of Home Builders says that the 299,000 multifamily residences it sees being built this year will still not bring supply into line with demand.
- One glitch in the multifamily boom, some noted, is that it still is not economically feasible to build for all income levels because of lack of capital and rising materials costs.
From the article:
"Last year was a banner year for the multifamily market, and our baseline forecast calls for further steady growth in the rate of multifamily production," said NAHB chief economist David Crowe....