So there was just a lot of things that were underwritten just a couple years ago and a lot of those developers are just getting smacked right now because as you said it's just they can't refinance the rents and occupancy that they thought was going to be there, it's not there, and they're facing a liquidity

crunch like a lot of small businesses in the country. I'm Mary Long and that's Matt Argersinger, our go-to real estate guru at the Motley Fool.

My colleague Ricky Mulvey caught up with Matt to check in on the state of the multifamily market.

During the pandemic, flexible work sent a lot of people packing.

Newly able to work anywhere, folks flock to cities like Nashville, Austin, Denver.

Builders saw those trends and began to do what builders do best.

They built. Now though, there seemed to be a lot of empty new apartments in those places.

In today's show, Ricky and Matt put some numbers behind those trends.

They discuss what a mismatch in supply and demand

means for renters, developers, and, of course, investors.

So Matt, one of the biggest real estate trends

over the past few years has been the growth of the Sunbelt.

The story goes like this. People want more flexibility in how they work. Remote work has allowed them that,

so why not go somewhere warm to a fun city like Nashville but now I'm

starting to worry a little bit and part of this is because I'm a Mid America

apartment re-holder that you know maybe maybe the Sunbelt's overbuilt has multifamily become

overbuilt in these cities that had a lot of those population trends I think it's a

very fair question and it's a question I'm probably going to say yes to.

I think there has been a lot of overbuilding.

And you can almost see it, Ricky, you mentioned people wanting, or having more flexibility with work and wanting to move to warmer places.

Totally, I mean, we could see it in the U-Haul data, which is kind of interesting to track.

You could see U-Haul data, which shows you kind of where people are picking up stuff

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