4.8 • 692 Ratings
🗓️ 30 December 2024
⏱️ 23 minutes
🧾️ Download transcript
Click on a timestamp to play from that location
0:00.0 | Hey everybody. Today we are talking predictions 2025 and we're going to dive into the rental market |
0:10.0 | and rents and what we're expecting this year. It's going to be an interesting year for all of us |
0:15.2 | and I know a lot of you guys want to hear what we're doing. We have our, we're actually having a |
0:19.8 | whole prediction webinar tomorrow, but for day we're going to talk have our, we're actually having a whole prediction webinar tomorrow, |
0:21.9 | but for day, we're going to, we're going to talk to you a little bit about what we're going to |
0:26.0 | discuss tomorrow. All right. Um, so let's talk about the rental market. So everyone can see that |
0:31.5 | most of the country has some softening of rents currently. And so I think a lot of people think that's going to continue |
0:38.8 | into next year. So the first thing is less new units are going to come to market next year than they |
0:46.9 | did in 2024. So it's going to be about 20% less. Yeah. And I think it's important that everybody |
0:52.1 | understands there's a lag. So what that means is |
0:55.3 | when when you break ground on a, let's say you put a shovel in the dirt, it could be a year and a half |
1:01.8 | before you actually even open the clubhouse. And then you from there, you could have a year and a half, |
1:07.2 | two years of what's called a lease up, even longer depending on the size. |
1:11.0 | So there's a lag. |
1:12.8 | Same thing with single family homes. |
1:14.7 | There's always a lag, obviously, to build a home, to build a multifamily property. |
1:19.8 | So what we're seeing, when we're talking about units on the market, let's say in |
1:25.9 | 2024, those are units that broke ground and it could have been in |
1:30.8 | 2021, 2022. It significantly dropped off in 23 because of interest rates went up so much. |
1:39.0 | So that's what we're talking about. These are actual units that are hitting the market. |
1:47.1 | And I think that's important to understand because what that does, |
1:50.5 | new supply offsets everything. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ken McElroy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ken McElroy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.