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Multifamily to lag in slow, lengthy housing recovery

from Nation's Building News

The multifamily sector will lag behind all other housing segments in what is expected to be a slow, lengthy recovery, NAHB Chief Economist David Crowe said during a recent webinar on the state of multifamily housing last week. Crowe told participants not to believe the conventional wisdom surrounding past recoveries that “the steeper the fall, the quicker the rise” would hold true with this recovery. That’s not what we are seeing now. He said single-family starts have bottomed out, “but multifamily is not so fortunate.” He expected that multifamily starts would decline further before they begin to improve. more

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