Inflation’s Effect On New Multifamily Construction

Last year, Rental Secrets received an award at a ceremony held in Miami, FL. This year I returned to Miami to help the organizers with the event. But, on my flight back to Dallas, I noticed a couple of things. The tray table was about half the size I expected and the pocket on the back of the seat in front of me was non-existent. It resembled a couple of crossed elastic ropes. All of this got me thinking if this was the result of the high inflation that we’ve seen in recent years. And that if I was experiencing the effects of inflation in that way on a plane, how might inflation be affecting the apartments that have been built recently? We’re talking about how inflation affects new apartments coming to market on this episode of Renter Confidential.

Sponsor: Apartment Search Secrets (RentalSecrets.net)

Sources:
CPI Inflation Calculator, using US Dept of Labor statistics
https://www.rentcafe.com/blog/rental-market/market-snapshots/national-average-apartment-size/
https://www.businessinsider.com/why-is-lumber-so-expensive-prices-disaster-for-housing-market-2021-5?op=1
https://www.cnbc.com/2022/02/15/soaring-lumber-price-adds-nearly-19000-to-the-cost-of-a-new-home.html
“Crisis in Venezuela.” Last Week Tonight with John Oliver, created by John Oliver, Season 5, Episode 11, HBO Entertainment, 2018.
Pogue, Justin. “Parking In Apartment Complexes: The Struggle Is Real”, Youtube.com, Renter Confidential uploaded by Justin Pogue, August 22, 2023, https://youtu.be/rDAi_ZT8WB8