Bob FraserCFO & Macro Strategist | Data-Driven Investing Expert | Speaker & Author

Can a million new apartments lead to housing supply balance and affordability? Jay Parsons

Name: Can a million new apartments lead to housing supply balance and affordability? Jay Parsons
Uploaded: 2023-09-15T21:17:58+00:00
Duration: 33 s
Channel: Bob Fraser
Description: In this segment, the speaker emphasizes the critical need for increased housing supply, positioning it as a long‑term solution for affordability and…

15 Sept 2023 · 1 min

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In this segment, the speaker emphasizes the critical need for increased housing supply, positioning it as a long‑term solution for affordability and market balance. He highlights his consistent advocacy for “supply, supply, supply” and explains that recent undersupply drove unsustainable rent spikes. Now, the United States is experiencing its highest construction activity in five decades, with more than one million apartments currently under development—a milestone he views as a positive shift toward equilibrium in the housing market.

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Supply's a tough issue because on the one side we need more housing and I'm a big advocate for that. Anybody who follows my posts know that I'm a big fan of supply, supply, supply, build, build, build. And I think in the long term it's a win for everybody. It's more investable dollars into the space. We're encouraging more supply, which is a good thing for affordability. In the long term, what you want is some balance here. And we've gone through a period we were undersupplied, which led to crazy high unsustainable rent growth. And now that resulted in the highest supply volumes that we've seen in 50 years. I mean, we're building more than a million apartments right now across the country, the most in 50 years.