Tommy Dobczyk says his local market added over 10,000 residential units in 2.5 years, with a new multifamily project launching roughly every month. He questions whether the market is oversupplied and whether a property could work as a hotel given the glut.
Are you locking up deals in the deal room?
It doesn't work as a hotel. And the other concern is even though there's a significant amount of housing demand here in this area, that area right now has been being— I mean, there's been a multifamily development started every month for the last 2.5 years in that area. So the amount of multifamily that's already been developed there in the last 2 years is already there. It's well over 10,000 doors.
Yeah. So your worry may be that maybe not so over supplier, right? No question, right? Let me, let me, you know what, I'm gonna ask the question. Do they have— do they give me some kind of understanding of what's been taking place there over the last 2 years? Can they give me a report of something so we know in actuality how much has come on the market?
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