• Stan Humphries, who is the chief economist for Zillow, predicts that the market will catch up with the demand for multifamily housing in "the next couple of years."
• He told a June meeting of the National Association of Real Estate Editors that multifamily would "be the next bubble," though nothing like the collapse when single-family fell apart.
• Multifamily starts this year were running at an annual pace of 225,000 units on a seasonally adjusted annual basis.

From the article:

While single-family housing starts remain down, rental demand is driving new multifamily construction. But how long the demand will last is uncertain – an uneasy consideration for investors whose current investments may take years to hit the market.