This Odd Lots podcast episode features an interview with Lee Everett, head of research and strategy at Cortland, a multifamily owner-operator. The discussion centers on the current state of the multifamily housing market, focusing on the impact of rising interest rates, reduced construction, and the challenges faced by developers. Everett predicts a shift from a renter-friendly to a landlord-friendly market in the next few years due to decreased supply and high demand. He highlights the financial struggles of smaller developers and the consolidation within the industry, noting that established players are better equipped to handle higher interest rates. A key takeaway is Everett's prediction of tighter rental markets and higher rents in desirable locations by 2026 due to limited new construction.
