NMHC: Rising Vacancy Rates No Reason to Stop Housing Development
For Rent real estate sign. Blurred sky and trees background.
Even though apartment vacancies are creeping up and rents are finally starting to soften, the National Multifamily Housing Council (NMHC) says it’s still important to keep constructing new units. It says “quick fixes” like rent moratoriums and rent control are no substitute for increasing supply, and calls for federal government action to effect change at the local level. This would include broadening tax credits, increasing subsidies, and reducing the high cost of development by incentivizing localities – through connecting federal funds for things like transportation – to break down barriers to building.
https://www.globest.com/2022/11/28/nmhc-rising-vacancy-rates-no-reason-to-stop-housing-development/
