600: Major Multifamily Challenges Turn Into Great Opportunities Ahead

The multifamily business has been brutal for most operators over the past few years, especially for ones who took on bridge debt. There’s been too much new supply, and skyrocketing interest rates caught most operators off guard. For low-income workforce housing, the tenant base has gotten crushed by inflation which has resulted in higher delinquencies and higher vacancies. At the same time, however, there has been almost no new construction over the past couple years and excess inventory will be absorbed. There will be great opportunities to buy properties over the next 12-24 months. Charlie Young, Partner at Madera Residential with 12,000 units, has experienced major challenges since 2023, but is gearing up to make major acquisitions over the next couple years.