The built-for-Rent (BTR) sector is expected to have continued demand this year in spite of recessionary fears. In short, according to Brad Hunter of Hunter Housing Economics, though rents may pull back as much as 6% in 2023, volume will be up and overall fundamentals of the market will drive growth in 204-2025 and beyond. Millennials are having more children (much later than previous generations), gravitating away from the density of traditional apartments and toward detached product with 'yard[s], near good schools and parks in the suburbs'.
Accordingly, lenders are actively pursuing this sector and see long-term appeal.
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