From the 2009 bottom of the market, single-family housing starts are up slightly more than 100%. Multi-unit buildings, on the other hand, are up a whopping 466%. Although those numbers feel out of whack at first glance, it likely makes sense in this post recovery period. In 2005, home ownership had grown to over 69%, which is arguably too high. Since the crash, there’s a growing need for rental properties. That, combined with the movement into the cities from suburbia, starts to make these numbers make sense.
Theresa Springer’s Blog
Condos Growing 2.5x As Fast As Houses
September 2, 2015