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Journal Article
Texas multifamily housing yet to stabilize; downside risks remain
A fair amount of excess supply remains in some markets, and new properties are facing longer lease-up timelines.
Journal Article
Escaping the Housing Shortage
Despite the continuing economic expansion, home construction remains extremely low by historical benchmarks, constrained by the scarcity of undeveloped land in desired locations and land use regulations. Escaping the resulting housing shortage will take many years and likely require a shift toward multifamily construction, the freeing up of single-family homes by downsizing baby boomers, and the faster relative growth of medium-sized metropolitan areas.
Report
Housing Trends: Older Households Are Moving Less, and Multigenerational Living Is Rising
The rate at which older households changed residences dropped 11.1% from 2019 to 2023, while the decline among younger households was 7.8%. On average, older households have 2.4 bedroom per person in the home. The number of households in which adult children have moved in with their parents is increasing rapidly.
Journal Article
How Long Does It Take to Build Multifamily Housing?
Increasing the supply of multifamily housing is a key strategy to reduce the cost of shelter in our larger cities. However, the time required to produce these units has grown over time. We document the duration from when an apartment or condominium development or redevelopment (i.e., conversion from another use) is first announced until its completion. We break down this duration into (a) the planning and permitting phase and (b) the construction phase. We find that, on average, projects spend three to four months more in the planning stage than in construction. This project duration is ...